Crosstree Real Estate Partners, the London-based private real estate investment firm, has signed Whole Foods Market, BasicNet and an unnamed global corporate at its prestigious One Twenty King’s Road development in the heart of Chelsea.
Crosstree has transformed the formerly redundant and out-of-date Kings Walk Shopping Centre into a prime landmark mixed-use development featuring distinct heritage architecture by Squires & Partners. The development has increased the net area from 55,000sq ft to 84,000sq ft across a more varied mix of uses, including retail, office and leisure space.
On the ground floor and basement, Whole Foods Market, the American multinational supermarket chain owned by Amazon, has signed a 15-year lease to occupy 21,000sq ft. The brand is creating a flagship store for Chelsea that will serve the substantial local catchment.
BasicNet, the apparel, footwear and accessories group, has signed a 10-year lease to occupy 6,500sq ft of prime King’s Road retail. Its store will showcase outerwear brand K-WAY, trainer brand Superga, and heritage leather shoe brand Sebago, alongside each other.
In addition, Crosstree has let 37,000sq ft of office space to a single global corporate occupier on floors one to four.
Commenting on the signings, James Clark, development director at Crosstree Real Estate Partners, commented: “One Twenty King’s Road follows our One Berkeley Street development in Mayfair in bringing a high quality, highly sustainable mixed-use development to a prime London location. While the ground floor space has been designed to complement the existing strength of the King’s Road by attracting new brands such as K-WAY, Superga and Sebago, the significant volume of office space on the upper floors brings something different to Chelsea.”
Jade Hoai, director of purchasing and operations at Whole Foods Market, said: “We are delighted to be opening a store at One Twenty King’s Road. This development allows us to expand our reach in London, and to share our love of food and our mission to nourish people and the planet with the local community.
“At Whole Foods Market, we are dedicated to building local community partnerships. We see this exciting new venture as a fantastic opportunity to widen our local community reach and invite more people to discover all that sets us apart.
“We look forward to opening this flagship store for Chelsea to we continue to provide Londoners with a unique, high-quality offering centred around the celebration of food.”
Federico Trono, CEO at BasicNet, added: “While the King’s Road has long been somewhere we have actively sought a flagship, One Twenty is the first space we have seen that gives us everything we want. We have a dominant frontage in a significant space that will allow us to showcase three of our leading brands. The heritage of the building and the street, combined with the quality and focus on the sustainability, are also perfect.”
Crosstree acquired the building in December 2019, received planning consent in 2021, and completed construction in August 2023. The 84,000sq ft development is now 75% let, with advanced negotiations under way for the last remaining unit, a 19,500sq ft retail space.
Crosstree was advised by Savills and CBRE on the retail, and CBRE and Pilcher London on the offices. Thomas Pain & Company represented Basic Net.
