Marylebone High Street in London continues to draw niche fashion brands, known for its village-like ambiance. Howard de Walden Estate, the prominent property company in the neighborhood, proudly reports an impressive 98% occupancy rate, indicating high demand for retail spaces.
The latest additions to this flourishing area are:
1. Ganni: Danish Elegance on Display
Ganni, the contemporary Danish fashion brand, has recently opened its doors at 69 Marylebone High Street. Famed for its blend of affordable luxury and commitment to sustainability as a B Corp brand, Ganni has taken over the former Aesop store. This addition further enriches Marylebone’s diverse shopping landscape.
2. Derek Rose: Elevating Leisurewear
Luxury leisurewear brand Derek Rose is preparing to open at 39 Marylebone High Street, just in time for the festive season. Renowned for its craftsmanship and comfort, Derek Rose promises to bring sophistication and style to Marylebone’s retail scene.
Rob Kirk, Head of Retail & Leisure at The Howard de Walden Estate, underscores their dedication to preserving Marylebone’s timeless appeal and unique offerings. He states, «By welcoming these new occupants, we are enhancing the allure of Marylebone Village as we approach the festive season and beyond. Demand for these spaces remains robust, driven by vibrant streets and positive footfall across the estate.»
Despite pandemic challenges, Howard de Walden Estate is making a remarkable recovery. For the fiscal year ending in March, rental income surged by an impressive 9.2% to reach £147.8 million. Retail income also experienced substantial growth, rising by 7.5%, supported by strong occupier demand and trading, resulting in increased foot traffic.
Profit after operating costs reached £99.3 million, compared to the previous year’s £88.4 million. «Revenue profit before tax» saw an impressive increase of 16.7% to reach £74.9 million. Notably, the business recorded a pre-tax loss of £102.3 million, primarily due to a £199.5 million loss from the revaluation of investment properties.
Despite this accounting loss, the overall performance and resilience of the Howard de Walden Estate remain strong, highlighting Marylebone’s enduring appeal as a vibrant and sought-after destination for both residents and retailers alike.
