Hamleys closes in on 15 year lease in New York

Hamleys is reportedly closing in on a deal to secure a 15 year lease on a New York location in early 2019, marking its first store in the US.

The British toy store would lease about 30,000 square feet at SL Green’s 2 Herald Square, according to the Commercial Observer.

This would be split between about 11,000 square feet at grade, 15,000 square feet on the second floor and 4,000 square feet in the basement.

The deal is likely to close at the beginning of 2019, and the store would then open at the beginning of 2020. Hamleys would have a 15-year lease, and the asking rent is $8 million per year.

It follows the recent reopening of the famed New York toy store FAO Schwarz which moved into the Rockefeller Centre earlier this year.

About Robert Hutchins

Robert Hutchins is the editor of ToyNews and its sister title, Licensing.biz. He has worked his way from Staff Writer to Editor across the two titles, having spent almost eight years with both and what now seems like a lifetime surrounded by toys. You can contact him by emailing robert.hutchins@bizmedia.co.uk or calling him on 0203 143 8780 You can even follow him on Twitter @RobGHutchins if ranting is your thing...

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