French shop's boost for Bond Street's cheaper end

The shabbier end of New Bond Street, close to Oxford Street, could finally be spruced up to match its luxurious neighbours further down the street.

French upmarket brand Marithé François Girbaud has signed up at 107 New Bond Street, setting a new top rent for that end of the street.

It has paid around £295 zone A, the industry measure for rent calculated by the most valuable part of the store, and is banking on improvements that will be made when the Crossrail station is built.

Property company Great Portland Estates is also developing a 205,000 square feet development at Hanover Square, behind New Bond Street which will include new shops on New Bond Street, a new public square and pedestrian links between New Bond Street, Brook Street and Oxford Street.

Peter Mace, Bond Street property expert at Cushman & Wakefield, said: "This end of Bond Street has been difficult but with Great Portland's development plans and new retailers recently opened such as Kronometry and Core Spirit and now Girbaud it is really starting to improve."