Lord Sugar’s Amsprop strikes major Comme des Garçons West End deal

Lord Sugar’s Amsprop Estates has agreed a major letting for the parent of Dover Street Market to take Burberry’s former SW1 headquarters.

Comme des Garçons has signed a 20-year deal with Amsprop Estates for 33,000 sq ft at 18-21 Haymarket, SW1.

A record rent of £2.65m pa is understood to have been agreed, demonstrating the positive effect on retail and office space of The Crown Estate’s planned £500m investment in the area.

Dover Street Market is a multilevel fashion retail and concept store created by Rei Kawakubo of Japanese fashion label Comme des Garçons. The latest deal could see it relocate from its current home at Amsprop’s 17-18 Dover Street development. The new space could also be used for other Comme des Garçons subsidiaries.

The significant letting comes just over a year after Amsprop paid £31m to a private Russian investor for 36,500 sq ft 18-22 Haymarket, SW1.

The Grade II-listed property has been largely vacant since 2009, when luxury retailer Burberry relocated to Victoria, SW1. It was built for the firm as its flagship headquarters just before the First World War.

Daniel Sugar, managing director of Amsprop Estates, said: “This building has always been a good-quality freehold, but the area is now undergoing a radical makeover, making the property much more valuable and SW1 increasingly popular for luxury goods brands. This high-profile deal emphasises why we made the decision to invest in this location.”

Amsprop will now work up redevelopment options for 22 Haymarket at the development.

Nicholas Marks, director at James Andrew International, which advised Amsprop, said: “Ten years ago CDG created the Dover Street Market and turned Dover Street from a quiet Mayfair art street into the fashion Mecca of Mayfair by occupying an Amsprop building on the street.

“We expect this seminal deal to be the rebirth of Haymarket and, along with The Crown Estates’ major redevelopment programme, Haymarket will once again become one of the finest retail and fashion hubs in London.”

joanna.bourke@estatesgazette.com