The camera specialist has taken a 15-year lease on 1,500 sq ft of space at 102 New Oxford Street, paying a rent of around £200,000 per annum.
Nash Bond acted for the landlord Tishman Speyer.
Jessops collapsed into administration in December 2012 but was rescued in March 2013 by Dragons’ Den entrepreneur Peter Jones who reopened its stores, in a boost to the high street.
Jones has since refitted stores, cut its cost base, and focused on providing more specialist advice and services for photography enthusiasts to compete with mainstream competitors.
The New Oxford Street store has been fitted out with an on-site lab for photo gifts and prints within the hour and also provide photography training courses and same day click-and-collect.
Jones said: “There is a huge and growing appetite for photography in the UK. At Jessops, we want to keep fueling Britain’s passion for photography. By offering more choice, more brands and more specialist advice in the capital, we can ensure that Jessops remains the go-to place for all customers’ photography needs.
“Trying a camera before you buy it is a huge part of the journey – and with the opening of our latest flagship store customers can get hands-on and experience a wide range of cameras and equipment to help decide which product is right for them. Restoring this iconic British brand to the high street over the past four years and doubling the number of stores we originally opened has been an incredible journey. We want to ensure as many customers as possible get to experience the great service that Jessops provides and get the chance to discover the world of photography.”
“The location of our New Oxford Street store builds on the success of our existing flagship London store,” says Neil Old, chief executive of Jessops. “There is a lot of exciting redevelopment in this part of London with an estimated 200,000 passengers passing through the new Tottenham Court Road station when it is completed later this year. This will allow us to offer our leading service and products to a wide audience of potential photographers.”
Kasmira Jefford – CoStar News