Department stores
Nine of our department stores, covering 1.7 million sq ft, are leased to Debenhams and the portfolio includes the 370,000 sq ft Oxford Street store situated between Oxford Circus and Bond Street tube stations.
We also own the 490,000 sq ft House of Fraser store in Corporation Street, Birmingham. The lease is subject to break in 2042 (and expiry in 2061) with contractual rental uplifts through the term of the lease.
10
department stores
2.3 million sq ft
Total floor area
Debenhams, Oxford Street, London
Nine stores, including the flagship Oxford Street, London store, on 1.7 million sq ft are leased to Debenhams for a minimum unexpired term of 23 years. The leases provide for minimum 2.5% per annum rental increases and five-yearly open market reviews from 2019.
1.7 million sq ft
on oxford street
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