Luxury goods group Kering has agreed to lease an Yves Saint Laurent store from O&H Properties on Bond Street, W1, setting a new rent record for the UK.
Kering will pay more than £13m per year for the six-storey property, according to The Sunday Times. The Gucci owner fended off competition from rivals LVMH and Richemont for the space, located on the corner of Grafton Street.
The previous record was set by Ralph Lauren, when it paid £11.5m for its Bond Street location in 2016.
O&H Properties is a vehicle held by the families of investors David Gabbay and Eli Shahmoon.
The Times (£)
