Nicky Clarke is paid £500,000 to cross street

 
Laura Chesters13 April 2012

Celebrity hairdresser Nicky Clarke has been paid £500,000 to move out of a Mayfair street so that designer Oscar de la Renta can move in.

Clarke, who has had his headquarters in Mount Street for 21 years, agreed to the deal with his landlord — the Duke of Westminster — to move across the road. He will open a shop opposite the Connaught hotel, at 11 Carlos Place.

Clarke will be paying less rent for the two-storey shop and has been paid a premium to leave 130 Mount Street.

The store was opened by the Duchess of York in 1991 and was chosen by the hairdresser’s business partner and ex-wife Lesley Clarke.

Mrs Clarke said: “The rent was due to go up, as it does everywhere. But we felt this was a good time to move — we are relaunching ourselves. Some times a brand needs to move to be fresh.”

Clarke and the Duke, who heads property company Grosvenor Group, would not comment on the size of the premium but Mrs Clarke said: “If we weren’t happy we wouldn’t have moved and stayed with the same landlord. We have come to an amicable, compatible agreement. Grosvenor has made the move painless but there certainly wasn’t any bribe.”

Helen Franks, Grosvenor’s director of leasing in London, said: “As a long standing tenant we wanted to ensure Nicky stayed in the area. When we were able to change the planning use of Carlos Place, from office to retail, we knew this would be the perfect place for him to move. And it allowed Oscar de la Renta to take a shop at the gateway to the street of high-end fashion and accessories.”

Retail property advisers MMX Retail advised Nicky Clarke on the move. Grosvenor works with Wilson McHardy to attract designers to Mount Street. It already has Marc Jacobs, Loewe and Christian Louboutin.

De la Renta, who was trained by Balenciaga, has been looking for a store for more than three years. It is thought the designer, who has dressed celebrities from JK Rowling to Rihanna and sells off-the-peg gowns for more than £10,000, is paying a record rent for the street.

The business has also paid a premium of close to £1 million to secure the spot in Mount Street which will be its only London store.

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