Lothbury Attract Flagship Cambridge Satchel Company Store to Covent Garden

Nov. 11, 2014 - PRLog -- Lothbury holds 25 – 31 James Street under management

The 3,239 sq. ft. five-storey store officially opened its doors to the public in early October and features two designated retail floors and three further floors of office space for the brand, including a showroom.

Mike Toft, senior fund manager and director of Lothbury Investment Management, said: “It is excellent news that The Cambridge Satchel Company has taken the lease on 31 James Street. Our Covent Garden units are one of the key assets in the Lothbury portfolio and competition for the lease was very strong. Alongside the other respected retailers in James Street, The Cambridge Satchel Company’s flagship store is a perfect fit for this address. Their location here is in line with our policy of attracting high quality names to the prestigious properties in the Lothbury portfolio.”

The announcement of the new flagship store follows a $21m investment in The Cambridge Satchel Company from Index Ventures in January of this year.

The Cambridge Satchel Company Founder and CEO, Julie Deane said, "Following the Index investment in The Cambridge Satchel Company, we have been building a strong ‘Best in Class’ team and I am proud to announce that we are moving into a stunning London townhouse which will be home to many of the team, a showroom and a flagship store."

Lothbury Property Trust’s holding at 25-31 James Street comprises a number of retail and office units which equate to 8.1% of the fund’s total property holdings.  This asset comprises Lothbury’s flagship retail holding and occupies a prime position on one of London’s busiest retail thoroughfares. The units have 100% occupancy and the current retail tenants include The Body Shop, Dune, Fossil, Michael Kors and MAC. Throughout their ownership, the Lothbury Investment Management team has actively targeted these assets to realise premium rental levels.

Split across two floors, the store showcases the brand’s iconic satchels and seasonal collections as well as housing a dedicated men’s area. A custom designed and built ‘beach hut’ in the basement allows customers to have their satchels personalised with a bespoke embossing service.

Cushman & Wakefield acted for Lothbury, while Colliers acted for The Cambridge Satchel Company.