Antiquarius, Kings Road, Chelsea

Anthropologie, Kings RoadWe successfully completed the transformation of the Antiquarius building from an antiques arcade to a large single unit with approximately 16,000 square feet of retail space. The entire building has been let to Anthropologie, the US fashion chain, at a rent of £1.1 million per annum. The apartment to the rear of the building which we refurbished in 2007 has also been let at a further £50,000 per annum.

The development required listed building and freeholder consents, which were obtained in April. The total cost of the development has been £1.96 million, and the net incremental rent is £592,000. Anthropologie took possession of the building in October 2009 and has recently commenced trading following an extensive period of fitting-out.