A new Zone A record rent deal has been set for London’s Oxford Street thanks to Hong Kong based Circle Group letting 409 Oxford Street to Polish cosmetics retailer Inglot.

Circle Group was represented by Savills in the process and the cosmetics firm has secured a new 10 year lease for the 600 sq ft unit with an annual rent of £625,000.

The new store will be the company’s third in the UK after successful openings at Westfield Stratford City and Westfield London.

The deal will see the continuing trend of international brands establishing a West Ends presence, with 10 new global retailers opening their first London stores this year, including GH Bass, Ron Dorff and APM Monaco.

By the end of this year, another 13 international retailers are expected to open their first capital stores, including Maiyet, Ellie Saab and Philip Plein.

Savills’ Oxford Street specialist, Sam Foyle, commented: “We are pleased to have secured another hugely successful global brand for Oxford Street.  Competition among retailers for the best locations remains aggressive, as reflected by the record rent agreed with Inglot.”

Meanwhile, Savills’ Head of Central London Retail, Anthony Selwyn, said that Oxford Street will continue to act as a strong pull for new brands wanting to make their mark in London.

He added that given the influence of Crossrail and the discussions about the potential plans to make Oxford Street a pedestrian zone, the company is expecting to see an increase in the number of new entrants setting up in the new street during the next two years.

During the process, Inglot was represented by BC Retail, while Savills has also secured the previous rental record for Oxford Street with the let to Swatch Group Ltd in July last year which cost £1,010 Zone A.