CapCo leases its property to Polo Ralph Lauren Corp

In an endeavour to push up the rents of its Covent Garden Estate and revamp the area, London’s largest specialist landlord and real estate developer, Capital & Counties Properties PLC or Capco are renting out a shop to U.S. luxury fashion brand Polo Ralph Lauren Corp. They have leased a 5,703 square feet space located at 43 King Street, to Ralph Lauren’s ‘Rugby’ store for 15 years. The company will be opening their outlet here in the autumn next year.

Capco owns the massive GBP592 million Covent Garden shopping and entertainment district as well as the GBP443 million Earls Court and Olympia exhibition centers. The company has been steadily revamping the Covent Garden property ever since they acquired it in 2006. They are adding restaurants, leasing out property to top retail brands, and other small revamps to up the value of this property. Retailers such as Burberry and Apple Inc. are also going to open their stores in the King Street area.

CapCo’s Chief Executive Ian Hawksworth said “Covent Garden attracts over 46 million visitors a year and this new letting is further proof of our commitment to reenergize the estate as a leading retail and leisure destination within the West End.” Well things seems to be going according to their plans I guess.

Via: Nasdaq

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