11 May 2023
Martin’s Properties today announces that it has fully pre-let all 5 units at their flagship 33 King’s Road scheme in Chelsea. The 25,000 sqft refurbishment, extension and repositioning scheme sees the former retail parade converted to modern, flexible architectural class E accommodation. The 6 month construction project will complete in May 2023 with leisure and fashion retailers; Alo Yoga, Bloobloom and Mc2 Saint Barth taking the retail space alongside the new Mexican inspired IXCHEL restaurant.
Martin’s Properties’ commitment to Chelsea is highlighted by the redevelopment of the site alongside its continued investment into the King’s Road partnership. The company, its shareholders and its team are passionate about delivering a strategy in Chelsea that ensure a vibrant and welcoming experience for residents, visitors and tourists alike.
The largest unit will welcome IXCHEL, a new Mexican inspired restaurant and bar. The unit spans 5,495 sqft with the capacity for 180 covers. Named after the Mayan Goddess of the moon, IXCHEL will offer fresh sharing plates and tacos from its wood fired Robata, alongside a dedicated Tequila and Mezcal bar mixing fresh signature cocktails.
US based Alo Yoga, one of the US fastest growing designer leisurewear brands, are taking 4,000 sq ft for their first flagship UK store on 33 King’s Road. French designer eyewear brand Bloobloom add their 400 sq ft Chelsea store to their portfolio of 5 further openings across the capital following new investment into the company and vibrant beachwear and ski apparel MC2 Saint Barth are taking a further 400 sq ft for their first UK and London Flagship store.
In addition to the 25,000 sq ft pre lets, Martin’s Properties have let a further 4,000 sqft space at 44 King’s Road to Italian menswear label Luca Faloni. The new store, set to open later this summer, will become the brand’s flagship UK store. The store will mirror sibling stores around the world with their iconic Aperetivo bar.
Brook Stotesbury, Head of Commercial Asset Management and Investment, Martin’s Properties comments: “Bricks and mortar stores have regained their share and importance as part of the retailing mix. Retailers have acknowledged the importance of a physical store and are now focused on specific locations. The King’s Road continues to attract a vibrant mix of retail and F&B operators. Rents have recovered in prime locations and we are now achieving new record rents. The King’s Road continues to outperform the average footfall across the capital and we have been hugely encouraged by the interest from retailers across the globe vying for this space. IXCHEL, Bloobloom, Alo Yoga, MC2 Saint Barths and Luca Faloni will be exciting additions to the established offerings in the area.”
Fraser Carruthers, IXCHEL Founder comments “We are hugely excited to be delivering our new Mexican concept restaurant IXCHEL to Chelsea and 33 King’s Road. The area is fast becoming one of the capitals best places to eat so it was important for us to open our doors here. We have created a unique concept for this space working alongside some of the best creatives and designers and look forward to opening later this Spring.”
Founder Luca Faloni comments:“Chelsea is a top shopping destination in London and an important location for us to launch our official flagship store. The area has a rich history and hub for a diverse range of attractions for the local community and tourists experiencing the iconic Kings Road.”
Richard Bourne, CEO of Martin’s Properties comments: “As part of our long term commitment to the King’s Road, including our role in the Kings Road Partnership and our own ESG agenda, we are continually seeking ways to preserve and enhance the special character of the King’s Road. The repositioning of the 25,000 sqft block has created 5 fresh units with exciting brands that are new entrants to London and the UK. We look to work with brands who share our vision and values in improving the heritage, culture, and community of the area to ensure that it remains relevant. We took a great deal of time to curate a mix of customers for this parade who share our vision for ESG and sustainability whilst delivering a destination with avant garde, lifestyle led retailers and restaurant. We very much look forward to welcoming them to the Kings Road. The repositioning of these units showcases our in-house expertise in repurposing assets, generating long term value enhancement and improving the quality of the physical offer, tenant mix and ESG credentials across all sectors.”
Savills and Hanover Green acted for Martin’s Properties.
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Notes to editors
About Martin’s Properties Martin’s Properties, established 70 years ago, is a family owned, London based UK investment and Established in 1946, Martin’s Properties is a family owned, London property company operating across London and the South East with a prestigious property portfolio worth in the region of £350 million. Martin’s Properties mixed asset portfolio includes commercial, industrial, retail, residential, office, leisure and mixed use properties across the South of England. With a focus on creating and managing sustainable, well-designed buildings, Martin’s Properties is a customer and community facing business which strives to ensure that all its premises meet the occupational needs and expectations of its customers and stakeholders.