Grant of a new lease to Barclays Bank PLC at Hornton Court, Kensington High Street
Forsters acts on record retail letting to Barclays on Kensington High Street
Forsters has acted for its long-standing client, the Trustees of the Phillimore Kensington Estate, on the grant of a new lease to Barclays Bank PLC at Hornton Court on Kensington High Street. The rent of £560,000 per year – an equivalent to £252 per square foot – set a new retail high and the site has since been redeveloped as one of Barclays’ flagship branches.
The Bank has taken on a 15-year lease on a 7,450 sq ft two-level store at 134 Kensington High Street which had previously been occupied by WH Smith since the 1930s.
Forsters has also recently completed two further lettings for the Phillimore Estate at Hornton Court. Cos, the upmarket fashion retailer owned by H&M, has taken a 10 year lease of 126 Kensington High Street, while number 138 has been let to Butlers Trading on a five year term.
Partner Glenn Dunn acted for the Trustees of the Phillimore Kensington Estate, who were advised jointly by King Sturge and Savills. Denton Wilde Sapte acted for Barclays, advised by Knight Frank.