Crosstree Real Estate Partners, the London-based private real estate investment firm, has announced the signing of Whole Foods Market, BasicNet, and an unnamed global corporate at its prestigious One Twenty King’s Road development in Chelsea. This project transforms the previously outdated Kings Walk Shopping Centre into a landmark mixed-use development with distinct heritage architecture by Squires & Partners.
The greenest new development in Chelsea, One Twenty King’s Road has expanded the net area from 55,000 sq ft to 84,000 sq ft, offering a varied mix of retail, office, and leisure spaces. On the ground floor and basement, Whole Foods Market, the American multinational supermarket chain owned by Amazon, has signed a 15-year lease for a 21,000 sq ft space. This flagship store will serve Chelsea’s substantial local catchment.
BasicNet, the apparel, footwear, and accessories group, has secured a 10-year lease for a 6,500 sq ft retail space. The store will feature brands like K-WAY, Superga, and Sebago, showcasing a variety of their popular products.
Additionally, Crosstree has leased 37,000 sq ft of office space to a single global corporate occupier on floors 1-4. This space includes a private entrance off Tryon Street, arched windows along King’s Road, and a 1,650 sq ft terrace on the 4th floor overlooking the Royal Hospital and other London landmarks.
Commenting on the signings, James Clark, Development Director at Crosstree Real Estate Partners, said: “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 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, added: “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.”
Federico Trono, CEO at BasicNet, commented: “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 sustainability, are also perfect.”
Crosstree acquired the building in December 2019, received planning consent in 2021, and completed construction in August 2023. The 84,000 sq ft development is now 75% let, with advanced negotiations under way for the last remaining unit, a 19,500 sq ft retail space. Crosstree was advised by Savills and CBRE on the retail spaces, and CBRE and Pilcher London on the offices. Thomas Pain & Company represented BasicNet.
