Calzedonia swoops on undie store
ITALIAN fashion company Calzedonia yesterday bought its flagship London underwear store Tezenis from landlords Great Capital Partnership for £22.9m.
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.
It comprises a retail unit over three floors with five floors of offices.
The deal signals the start of a revived interest in West London property and is part of the location’s reshuffle. Great Capital Partnership, Great Portland Estate’s joint venture with Liberty International subsidiary Capital & Sounties, also negotiated new 125 year leases on five other West End properties which form a single block fronting Piccadilly and Jermyn Street.