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Lothbury lets flagship Covent Garden holding to bloobloom

Real estate investment manager, Lothbury Investment Management, has completed the letting of a retail unit at its flagship Covent Garden holding, on behalf of Lothbury Property Trust.

The ground floor and basement unit at 30 James Street comprises 1,450 sq ft. The space has been let to progressive designer eyewear company bloobloom on a five-year lease generating a rental income of £450,000 per annum. The unit was previously occupied by DnaNudge.

Originally an online-only retailer, bloobloom is taking the prescription eyewear market by storm. With its flagship store now open in Covent Garden, the retailer has a further four outlets across London.

Lothbury Property Trust owns six retail units on the busy pedestrianised thoroughfare of James Street, which links Covent Garden tube station with the Piazza. The location benefits from exceptionally strong retailer demand and is home to a wide range of world-class fashion, beauty and lifestyle stores.

Jonathan Strong, asset manager at Lothbury Investment Management, said: “James Street continues to be an excellent performing asset which has been in the Lothbury Property Trust portfolio since 1991. We are delighted to welcome bloobloom, an exciting new brand to this location, where we’re sure they will fit in well with our existing high quality tenants.”

Abbas Manai, co-founder at bloobloom said: “We are really excited to be opening our new flagship store in Covent Garden, it is a great destination for us. We have worked hard to create a brand that appeals to everyone and Covent Garden has the perfect mix of retailers to compliment bloobloom. We strive to create a great shopping experience for our customers and hope that the store will attract a new audience in the area. The new store opening is a great addition to our expansion this year.”

Lothbury was represented by Hanover Green Retail and Colliers. bloobloom was represented by Thomas Pain & Company.

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Lothbury Investment Management has completed a retail letting in Covent Garden to bloobloom.

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Notes to editors

● Lothbury Investment Management Limited (LIM) is authorised and regulated by The Financial Conduct Authority, it is a UK real estate investment manager with £1.5 billion assets under management, as at Q1 2023. ● Lothbury Property Trust (LPT) is the flagship fund for LIM, providing investors with access to the UK property market. In addition, LIM manages the Secure Income Portfolio for a UK Pension Fund. ● Lothbury Property Trust holds £1.10 billion assets under management and is a balanced property unit trust providing exposure to the UK office, retail, industrial, student accommodation and hotel sectors and is geographically spread across the UK. ● The Fund delivers an innovative investment solution through a core/active strategy that comprises a predominantly core portfolio of prime assets to achieve stability of return combined with active management initiatives to create additional value and an enhanced return for the investor. ● The Lothbury Property Trust has achieved a four Green Star GRESB rating for 2022 and was ranked 5th (out of 80 Diversified UK Core Funds) in the GRESB benchmark.

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