16 April 2016 – by Amber Rolt & Louisa Clarence-Smith
Danish toymaker Lego is opening its first standalone shop in central London.
It is opening in the redevelopment of 48 Leicester Square, WC2, the landmark island block that occupies the west side of the square.
Linseed Assets, a vehicle managed by Old Park Lane Management, is the long-standing owner of the 90,000 sq ft asset, formerly known as Communications House.
Lego is taking an 8,000 sq ft shop that will be its largest in London. It also has concessions in Westfield London, W12, and Westfield Stratford, E20.
Average prime retail rents in Leicester Square are around £250 per sq ft, according to Savills.
The 48 Leicester Square scheme will provide 30,000 sq ft of retail and leisure space, of which 17,000 sq ft is already under offer, including to existing tenants All Bar One and McDonald’s.
Lego is on a retail expansion trail worldwide and already has a portfolio of more than 100 shops. Twelve of these are in the UK, including at Bluewater, Kent; Brighton; Cardiff; Liverpool; and Milton Keynes.
Cushman & Wakefield is letting agent at 48 Leicester Square.
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