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Real Estate Management (UK) Limited (REM), on behalf of the owners, has agreed a new 15-year lease with Asian influenced food chain itsu for the 2,270 sq ft unit in The Retail Arcade.
Located in Shard Quarter home to The Shard, Western Europe’s tallest building; News UK’s headquarters and the residential development Shard Place – The Retail Arcade connects The Shard with London Bridge Underground station, the fourth busiest transport hub in the UK. Serving the station’s passengers in addition to the millions of visitors that The Shard attracts annually, The Retail Arcade brings together internationally-known brands and local businesses, including a florist founded in SE1, a boutique coffee brand and a range of fashion and cosmetic companies.
The latest addition to The Retail Arcade is part of the original vision for Shard Quarter to become a truly multi-use quarter where people can work and play, with a range of attractive amenities to add to the thriving London Bridge neighbourhood. itsu will add to the diverse range of culinary options SE1 offers and will drive convenience for the thousands of professionals who work in Shard Quarter.
Founded over 20 years ago, itsu has experienced strong growth, and is now trading from over 60 restaurants. Its move into The Retail Arcade is part of its wider expansion strategy across the UK.
Michael Baker, Chief Executive Officer of REM, the asset manager of The Retail Arcade, said: “Our vision for Shard Quarter was for it to become truly multi-use development which offers world-class amenities and attractions, alongside versatile office space.
“London Bridge is already well-known for its culinary credentials and itsu will further add to its diverse range of options – a welcome addition for the area’s professionals and visitors.”
Andrew Sell, Commercial Director of REM, the asset manager of The Retail Arcade, said: “itsu’s expansion into The Retail Arcade reinforces the enduring appeal of Shard Quarter for retailers and businesses alike and will serve as a popular choice for local residents, visitors and professionals. Situated in one of the busiest stations in London, The Retail Arcade is a premium location for retailers to help achieve their growth potential.”
Philip Derbyshire, Group Property Director at itsu, said: We are really excited to be opening in such a high-profile location, The Shard attracts a huge number of people every day – some working, some visiting but most looking for convenient and healthy options, whether that’s lunch, dinner or just a snack on the go.
“Our new shop will bring more jobs to the local area and we’ll be working hard to ensure we open our doors in time for Christmas.”