Shoe shop wins Savile Row bidding war

5 November 2013

Rents on Savile Row have been pushed to a record high following a global bidding frenzy for a tiny shop that became available.

More than 20 international brands from the US, Japan, Middle East and Europe competed for the site but, in a break with tradition, it was snapped up by Northamptonshire shoemaker Gaziano & Girling. The main landlord on the Row, the Pollen Estate, only leases stores to tailors, but the Italian landlord of Number 39 had no such restrictions.

The bidding war has pushed the going rent on the street up by 20 per cent, with the annual rent for the small store at Number 39 agreed at £117,500 a year.

Martin Crossley, head of retail agency at property adviser Metrus who advised on the deal, said: “There is no doubt that the Savile Row label is recognised across the world as being synonymous with the history and quality of great British tailoring.

“Both established and up-and-coming brands can see the value in becoming part of such a rich and much-loved heritage.” While the traditional tailors on the street welcomed the new shoemaker, they are still up in arms over plans by US fashion group Abercrombie & Fitch’s to open a childrenswear store on the Row.

Anda Rowland, owner of tailor Anderson & Sheppard, said: “Gaziano & Girling are committed to British making and are a good addition to Savile Row. The big threat to rents still comes from the Regent Street-style brands like Abercrombie and Fitch’s children’s shop.”

Mark Henderson, chairman of Gieves & Hawkes and a member of the Savile Row Bespoke Association, said: “A new shoemaker here is fantastic news. But what Abercrombie is planning is idiotic.

“Savile Row is a stupid place to put a kids shop. I don’t think they appreciate the reputational damage that trying to open here will have. Abercrombie is just behaving like a big kid.”

Abercrombie continues to pursue permission to open at 3 Savile Row in a Grade II-listed building.