Calzedonia swoops on undie store

ITALIAN fashion company Calzedonia yesterday bought its flagship London underwear store Tezenis from landlords Great Capital Partnership for &pound;22.9m.<br /><br />The Spirella House store, on the busy shopping corner of Regents Street and Oxford street, was sold at a price 12.5 per cent above its March 2009 book value.<br /><br />&nbsp;It comprises a retail unit over three floors with five floors of offices.<br /><br />The deal signals the start of a revived interest in West London property and is part of the location&rsquo;s reshuffle. Great Capital Partnership, Great Portland Estate&rsquo;s joint venture with Liberty International subsidiary Capital &amp; Sounties, also negotiated new 125 year leases on five other West End properties which form a single block fronting Piccadilly and Jermyn Street.