A weekly round up of the latest property news from the central London boroughs

Camden

PW reports that HS1 is creating two new shop units by reducing the size of the National Rail ticket office, where demand has fallen following an increase in online sales. Paperchase is taking a 996 sq ft store whilst Neal’s Yard Remedies is taking 784 sq ft store.

City of London

PW reports that upmarket bar and restaurant operator Kornicis Group launched a new bar concept, We Are Bar, at 155 Bishopgate this week.

City of Westminster

PW reports that The Crown Estate has let the fourth and final floor of 7 Air Street to Imperial Innovations Group. The 8,948 sq ft letting means the development is fully let.

PW reports that high end boxing gym BXR will open its first branch in The Chilterns, Marylebone. It has taken 12,000 sq ft on the ground and basement levels.

PW reports that South African merchant bank Salamanca Group has acquired One Southampton Street from Aviva Investors and Canada’s Public Sector Pension Investment Board at a yield of around £50m – 4% yield.

EG reports about a dispute between the Curzon Cinema and the long leaseholder. The leaseholder is converting office space above the cinema into luxury flats but is seeking to make Curzon pay a £500,000 bill for soundproofing work to protect the development from noise films shown there. Curzon says it cannot afford to pay.

PW reports that Tai United Holdings is buying 6-9 Buckingham Gate from a JV between Brockton Capital, Mountgrange and The Rothschild Foundation. The price is said to be £112m.

EG reports that Polo Ralph Lauren has agreed to almost double its rent following a review. It will now pay £11.5m pa for its UK flagship at 1-5 New Bond Street. This equates to £2,225 zone A for the 40,500 sq ft shop, smashing the previous top rent by 11.5% and sets a new UK record. The Pollen Estate is the freeholder and the long leaseholder is a private property company which was advised by Metrus.

RBKC

PW reports that healthy dining concept The Food Yard will open its debut restaurant on Fulham Road next month. Landlord the Sloane Stanley Estate has leased a 1,327 sq ft unit to the deli-style concept which will focus on salads, juices and smoothies.

Tower Hamlets

PW reports that Schroder Real Estate is set to put Dept W on the market for around £40m. The 100,000 sq ft five-storey office and former department store on the Mile End Road in Whitechapel has planning consent to be extended to 127,000 sq ft.

Wandsworth

Apple has completed a deal to lease 500,000 sq ft at Battersea Power Station. The company will be the largest office tenant at the Power Station, occupying six floors of the central Boiler House. It is expected to move in during 2021. It will account for around 40% of the total office space in the whole development and will relocate 1,400 employees from existing offices around London.