US fashion retailer Hollister is poised to open a Regent Street flagship

US fashion retailer Hollister is poised to open a Regent Street flagship, its first central London store, after having agreed to take an assignment of National Geographic’s lease.

The retailer, which is the sister brand of Abercrombie & Fitch, is understood to have agreed to pay a significant premium to take the store at 83-97 Regent Street.

Hollister is set to move into the three-storey, 20,000 sq ft store, next year with 11-years remaining on the lease.

National Geographic opened its Regent Street store, which was its first in the world, in November 2008.

It is understood that the store was too big was National Geographic and the rent was too high. The retailer is understood to have been considering a move for some time.

CB Richard Ellis advises the Crown Estate; Capita Symonds acts for Hollister. Savills acted for National Geographic. All parties declined to comment.