One of the most prominent shopping streets in Manchester is set for a strong end to 2015 with a new tenant coming to one of its largest stores, national commercial property consultancy Lambert Smith Hampton (LSH) has announced.
Luxury jeweller Boodles is moving to new premises at 13-15 King Street, one of the largest corner units on the thoroughfare. Arranged over three levels, the store comprises almost 3,000 sq ft of prime sales space as well as basement and sub-basement storage. A major refurbishment of the premises will commence early next year.
Jonathan Thompson, director of retail agency at LSH in Manchester, said: “This store is one of the best placed locations on King Street – surrounded by some of the biggest names in luxury jewellery and with a substantial frontage. It’s therefore no surprise that an iconic British brand like Boodles wanted to expand into the space.”
Jody Wainwright , of Boodles, said: “We’ve had a presence on King Street for a number of years and know that it is the number one location for luxury jewellery shopping in the North West. On the back of the success of our current store, we’re now looking to expand our presence in Manchester, and we’re delighted that we’re able to do this at one of King Street’s most prominent spaces.”
Boodles’ move to 13-15 King Street follows the opening in November of another LSH letting, to men’s designer brand Diverso at 56 King Street. The new store comprises 550 sq ft of sales space and ancillary basement accommodation.
Jonathan added: “Both of these deals reflect what has been another strong year for property deals on King Street, with a number of major brands taking leases in 2015, including Hobbs, Hawes and Curtis, Neals Yard, Mint Velvet and Kiehls, with rents also on the up. It’s a trend that shows no sign of slowing in 2016 as Manchester’s retail sector continues to benefit from the improving economic conditions.”
LSH acted on behalf of the landlords at both 13-15 (King Street Estates Ltd) and 56 King Street (HMG Ltd) with Boodles signing a 15-year lease and Diverso signing a 10-year lease. King Street Commercial acted for Boodle & Dunthorne. KLM acted for Diverso.
Boodles (founded as Boodle and Dunthorne) is one of the UK’s leading diamond retailers. Its first store was opened in 1798 in Liverpool. It now operates in nine locations including a flagship store on London’s Bond Street.
Diverso was launched in London in 2003 and produces handmade menswear and accessories. Its new Manchester store is its first outside the capital.
