( 12 settembre 2019)
The joint venture between Oxford Properties Group, the global investor, developer and manager of real estate, and RLG Real Estate Partners L.P., advised by Daytona Real Estate Asset Management, announces that it has signed a new lease with Gazeley at 50 New Bond Street in Mayfair, central London, and has agreed renewals with existing tenants Urban & Civic and Ralph Lauren, who has also taken an additional floor in the building. The off-market agreements, totalling 35,000 sq ft, mean the building is now fully let until at least 2025.
Gazeley, which is part of GLP, the global investment manager that specialises in logistics and related technology investments, has relocated to 50 New Bond Street from the City of London. It has taken the entire 6,700 sq ft second floor on a 10-year lease and moved in during July following an extensive fit out.
Ralph Lauren, which already occupies the fourth and fifth floors for their EMEA commercial functions, has expanded its footprint in the building and agreed to let the third floor, taking its total space to 20,000 sq ft. Urban & Civic, advised by Montagu Evans, has also signed a lease renewal for the 6,700 sq ft first floor, extending its occupancy to 2030.
Oxford and RLG acquired 50 New Bond Street in 2016 after the building underwent a substantial redevelopment in 2009. As well as five storeys of offices, the ground floor units are currently let to luxury retailers Mulberry and Delvaux. Oxford also owns several other prime assets in London including 130-134 New Bond Street again with RLG, St. James’s Market with The Crown Estate and the iconic Royal Exchange in the heart of the City.
These assets form part of Oxford’s C$9.6 billion (€5.4 billion) European portfolio. Other assets in Europe include the Sony Center in Berlin and 273 Rue Saint-Honoré in Paris. Oxford’s global city-state strategy is focused on generating returns through direct and indirect real estate investments in capital and gateway cities in developed economies.
Earlier this year, RLG outsourced the management of its real estate investment portfolio to Daytona Real Estate Asset Management, a venture set up by Etienne Pax and Jean-Marc Vaury, formerly managers of the real estate investment activity at RLG.
Source : Oxford Properties