Royal Opera House Arcade Signs Four Posh Brands
Capital & Counties signed four new leases at Covent Garden’s Royal Opera House Arcade. The property developer’s strategy is to reposition the Royal Opera House Arcade as a luxury and lifestyle hub, as evidenced by the new tenants.
The Watch Gallery will open a store in September, selling brands like Rolex, Cartier, Hublot, Jaeger-LeCoultre, Tag Heuer and Breitling. Mulberry, the British lifestyle brand that specializes in the finest leather goods, will also open its shop in September. Lulu Guinness, the fashion brand, is relocating within the Royal Opera House Arcade, and Poiray, the French jewelry house based in Place Vendôme, will be opening its first UK store in Covent Garden for Christmas, following the refurbishment of the premises.
Capital & Counties also sealed a pre-lease to Petersham Nurseries in the Kings Court development, VyTA Santa Margherita in the Market Building and SUSHISAMBA in Opera Terrace.
Capital & Counties recently experienced a painful write-down of the value of its Earls Court land holdings, an effect of the immediate aftermath of Brexit. On the plus side, the company upgraded its Covent Garden holdings by 3%.