Toronto's Mink Mile is getting ever more posh with the rise of Sam Mizrahi's luxury tower The One and new flagship stores from brands like Hermes, Ermenegildo Zegna and Saint Laurent.
Could it be time for the lingering fast fashion retailers to flee?
It appears to be so, at least for H&M, which according to a lease brochure is set to vacate its longtime home at 15 Bloor Street West in Yorkville sometime over the next year.
"Iconic Bloor Street West retail for lease, one door west of the intersection of Bloor and Yonge, and directly next door to The One condominium," reads a brochure for the property by commercial real estate and investment firm CBRE Group, Inc.
"Bloor-Yorkville is experiencing dramatic intensification with a series of high end residential and retail uses in the immediate vicinity of 15 Bloor Street West," it continues. "Bloor Street West represents the pinnacle of Canadian high-street retail."
Want to take over H&M's prime retail location in Yorkville? It'll likely cost you more than a castle. Image via CBRE.
The brochure, which prominently features pictures of the sprawling H&M store at Bloor and Yonge, lists an occupancy date for the unit of February 2020 "or earlier."
H&M declined to comment on whether or not the store was closing and CBRE did not return multiple requests for comment.
It is of note, however, that the Swedish retail giant recently announced that it would be closing approximately 160 stores around the world in 2019.
With another 240 H&M locations set to open within the same period, there's no reason to worry about the popular chain itself.
Every space within earshot of The One, however, looks destined to eventually become something fancier than a place to buy well-priced basics.
by Lauren O'Neil via blogTO
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