The department store chain is shifting its focus to “other strategic priorities,” leaving one less bidder for the three licenses.

Bond Street reported a 20 per cent uplift in prime headline rents in 2024, taking its benchmark prime rent to €15,333 (£13,162) per sqm.

Although rents on Fifth Avenue have not fully recovered to 2019 levels, the street is now the priciest place to open a luxury ...