Hotel & Tours Group

Tiffany, the luxury jeweller, has set a new record for rents in Britain with the sale and leaseback of its Bond Street shop in the heart of London's Mayfair.
Despite a downturn in capital values in the wider commercial property market, the annual rent, at £650 per square foot, is an indication of continued strength in the luxury goods sector, especially around the streets of Mayfair.
Bond Street is among the best addresses in the world for any luxury goods retailer, but, with supply scarce, rents have shot up over the past two years.
The only site currently available on the street is one owned by Prudential, the insurer. Luxury fashion retailers including Versace and Tom Ford are believed to be considering paying premiums of up to £1m to obtain a lease on the site, despite the building not being available for another two years.
David Harper, a retail property agent from Harper Dennis Hobbs, refused to comment on the rent Tiffany will be paying. However, he said: "This is about globalisation. All luxury brands have to be located in London, Paris and New York and there just aren't enough shops to cope with the brands that want the exposure."