The Crown Estate has shortlisted bids for part of London’s fashionable West End.

Crown Estate, the property manager of the British monarchy, has collected a shortlist of hopeful bidders for an asset stake in around 25 per cent of Regent Street, the historic shopping strip in the trendy inner-west district of the capital.

A limited number of bidders will be part of detailed discussions ahead of the partial sale of the street according to a statement released by the management group today, although the identity of the bidders has been kept a secret. The strip in question has been part of ancestral land and property holdings that were originally exchanged by the monarchy back in 1760 for annual payments.

Several pension fund and sovereign wealth funds are believed to be vying for the area in question, which marks the second time that the Crown Estate has attempted to generate income towards a redevelopment of Regent Street worth around £750 million ($1.15 billion). An attempt to create a fund to off sell units was blocked by the corporate board in 2009 after it was labelled overly complex.

The district of Regent Street, situated between Oxford Street and Piccadilly Circus, is the biggest asset for the Crown Estate, recently valued at £1.6 billion. The estate owns the freehold rights to Regent Street, which was one of London’s largest ever construction projects, completed in 1825. Since then, some of the biggest global companies have made their home on the street, which separates trendy Soho from blue-chip Mayfair, including Hamleys, Burberry and Apple.

Leading UK retailers including Asda and Tesco are calling for a review of underage sales legislation.

A reform of laws governing the sale of cigarettes, alcohol and a variety of other products has been demanded by British retailers, who claim that existing rules are too complicated.

The group of retailers, which operate more than 250,000 outlets across Britain including independent stores numbering in their thousands, has urged the government to review and streamline the current regulations. Presently, there are 18 separate pieces of documentation that govern sales of items to underage children, which retailers claim are far too complex and should be combined into one, single, over-arching piece of legislation. Retailers are also calling for trade bodies and local regulators to grow stronger partnerships to tackle the problem.

Increasing pressure has been placed on retailers to tackle the problems of underage drinking and knife crime at the point of sale. However, they believe they are being singled out for what is a community issue. They also suggest that the complexity of the regulations, while increasing staff training and vigilance, has done little to protect their employees in the event of prosecution.

Chairman of the CBI’s Consumer Affairs Panel, Geoffrey Budd, said that using retailers as a part of the solution rather than the source of the problem would be far more effective in tackling issues.

The end of an era in fashion as Kate Moss leaves the leading high street retailer.

Supermodel Kate Moss has designed her last regular range for the fashion giant run by Sir Philip Green, ending a successful four-year partnership.

Topshop has confirmed that the 14th collection from Moss, the upcoming autumn/winter collection, will be her swansong, although she may feature in a number of one-off designs in the future according to parent company Arcadia, who also owns fellow fashion outlets Dorothy Perkins, Miss Selfridge and Bhs.

Industry insiders claim that the separation has been amicable, highlighted by the opening of the New York flagship store last April when Moss and Sir Philip appeared side by side. It is understood that the considerable amount of time required to put a collection together was the main reason for the departure of Moss, who has chosen to concentrate on other opportunities. Only recently, Ms Moss appeared on the cover of British Vogue magazine, marking the incredible 30th time in her career she has graced the iconic magazine.

The four-year collaboration with Topshop, considered to be a lengthy relationship in the fashion industry, was believed to have netted Moss around £3 million per year. She was snapped up by Sir Philip in 2005 after the tabloid scandal which featured photos of her snorting cocaine, when many thought her career was over. Her last collection will be released in October.

Leading music and enytertainment group HMV has announced the launch of a new fashion arm.

HMV will partner with Boxfresh and Lee as it enters the world of fashion retail, the latest phase of the group’s evolution into what calls a ‘broad based entertainment brand’.

The move will see HMV stores add a dedicated fashion section in their stores, to be called ‘The Studio’. These will feature predominantly menswear and accessories from well known brands including FLY53, Lee Jeans, Boxfresh and Eastpak, and are set to debut on September 1.HMV’s Oxford Street London flagship store will also feature items from Rocawear, the designer label from hip-hop star Jay-Z. UK rapper Kano will also be involved in the new initiative, along with the indie band Everything Everything, who are brand ambassadors for Boxfresh and Lee respectively. It is understood that both artists will make live, in-store appearances to celebrate the launch of the new fashion direction.
 
The entertainment group said that it sees itself as the perfect outlet for which to capitalise on the crossover between the music and fashion industries, claiming that the fashion foray was a natural progression.

The new clothing range will also feature online at the e-commerce site run by HMV, with the possibility of making an appearance at stalls run by the group at music and festival sites. Richard Stockwell, the HMV fashion manager, said that the two genres over-lapped each other strongly, making HMV the perfect fit to showcase both.

On the move shoppers take note; leading UK supermarket giant Tesco is to launch the country’s first drive-thru store.

Aimed squarely at those short on time, the drive through facility will also cater to people who neither want to make the weekly shopping trip into the mall themselves, nor shop online and wait for the delivery.

Instead, the new service will allow customers to pay a flat fee of £2 to be directed to a dedicated store area at a specific time and collect their purchases without ever having to leave the comfort of their vehicle. The first of the stores will be run as a pilot and will debut at Baldock’s Tesco Extra store in Hertfordshire. If all runs smoothly, then Tesco will roll out the initiative nationwide, though as yet no time frame has been put forward.

The Tesco dotcom will oversee the running of the service, and customers will still order their groceries online as they do now using the Tesco internet shopping facility. The only different is that rather than select home delivery, they will instead choose the Click and Collect option. By doing so, they will be provided with a two-hour collection window during which they are able to collect their purchases at any time. All that needs to be done on arrival at the store is head to the reserved area of the carpark and show a staff member the reference details of their online purchase and their goods will be loaded directly into their vehicle.