Although not exactly bereft of honey pots for the West London fashionista, the painfully stylish Sloane Square district will soon also include the first European store of US retailer Kate Spade New York, which is scheduled to open in September. As part of their proposed expansion to Europe the label made its UK debut last year with a one-month pop-up store in Covent Garden. However, the new 4,000 sq ft flagship commercial property will be their first permanent outlet following an agreement of a ten-year lease from the Cadogan Estate.
The move forms part of the redevelopment of the former General Trading Company building on the corner of Symons Street and Pavilion Road with a view to creating the most exclusive and sought after complex of retail and commercial property in the capital. With close proximity to such style stalwarts as Tiffany, Cartier and Hugo Boss the area is further strengthening its status as a local dapper dispenser with additional units due to be introduced to the Cadogan Estate by late-2011, including a 7,000 sq ft flagship store on Kings Road. Such an influx of commercial property can only attract the desired high-end retailers, enhancing the location values still further.
Already distributing to over 400 stores worldwide, this latest acquisition by Kate Spade New York has been welcomed by both the Cadogan Estate and its advisory body CB Richard Ellis (CBRE). Edward Humbert, Senior Director of Central London for CBRE has stated that ‘the Sloane Square area is continuing to evolve and improve as a retail destination’ and that the estate ‘is now in an even stronger position to attract further leading international fashion brands to the area’.
Although currently the new kid on this particular block, Kate Spade New York has the opportunity to become as prominent a fixture as its more illustrious and established neighbours; the commercial property chosen for this opportunity can only help the fashion emporium’s chances.
