Sir Paul Smith, the British designer, has opened a second accessories and shoe store in London.
Paul Smith opened at 38 Marylebone High Street this week in a 862 sq ft store. Advised by Koopmans, Paul Smith is paying £70,000 a year and has taken a ten year lease.
It is the second accessory store acquired this year following the opening of a shop in Royal Arcade, off Bond Street, during the summer.
Paul Koopmans, founder of advisors Koopmans, said: “Paul Smith likes the eclectic mix of quality retailers that can be found on Marylebone High Street.” He added: “The other unit at the back of the Royal Arcade has drastically improved footfall in the arcade and forms part of a hub for Paul Smith on Albemarle Street, where the retailer also sells furniture, furnishings and collections.”
Paul Smith is considering other locations for shoe and accessories stores, in locations where a full store can not be accommodated.
Also on behalf of Sir Paul Smith, Koopmans has disposed of a ground floor office at 17 Savile Row, W1 to Pilcher Hershman, the West End agent. Pilcher Hershman took a five year lease at a rent of £50,000 a year, after a six month rent free period. Sir Paul Smith bought the building last year. It is also occupied by retail warehouse specialist Edgerley Simpson Howe.
CWM acted for landlord Howard de Walden Estate at Marylebone High Street.
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