Article – September 2017
1 September 2017 | By Helen Crane
A former 1980s shopping centre in London’s Seven Dials is set to get a new lease of life as a unique flagship store for a single retailer.
Landlord Shaftesbury has reconfigured the 21,000 sq ft Thomas Neal’s Warehouse on Earlham Street, which formerly housed two floors of small retail units, to create an opportunity for a retailer to make what it calls a “unique world-class flagship” or “famous retail attraction”.
It is marketing the property to potential tenants as a “blank canvas” and said it had had significant interest from several parties.
The space is split across ground and basement levels and joined by a spiral staircase, with the ground comprising 11,680 sq ft and the basement 9,289 sq ft.
It fronts both Earlham Street and Shorts Gardens, and is located next to the Donmar Warehouse theatre in the area between Soho and Covent Garden.
Thomas Neal’s Warehouse, which is now vacant, began life as a banana, cucumber and book warehouse and is named after the MP who developed the Seven Dials area in the 17th century.
It first opened as a shopping centre in the 1980s and has housed a raft of youth-focused fashion brands including Superdry, Boxfresh, Carhartt, Firetrap, Fred Perry, Diesel, G-Star and Fat Face.
Further down Earlham Street, Seven Dials Warehouse is being redeveloped by CBRE Global Investors into 40,000 sq ft of prime office space.
Also in the Seven Dials area, sportswear retailer Ellesse has taken the former Miss Sixty store at 39 Neal Street for its first standalone shop in the UK.
The Italian casual brand is enjoying a renaissance in the UK as its products, which were first popular in the 1990s, find renewed favour with a young ‘hipster’ crowd.
It is currently available online and at various third-party stockists in the UK, but does not have its own store presence.
Elsewhere in the area, Shaftesbury has recently completed a 13,620 sq ft redevelopment of Monmouth House, which will create two flagship retail spaces totalling 3,683 sq ft and an additional 6,850 sq ft of grade-A office space.
It is also improving the public realm around Earlham Street through a number of initiatives such as widening the pavements to cope with greater footfall.
Nash Bond leasing Thomas Neals Warehouse