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Apple to open flagship store in London

"Apple Computer is planning to open a giant flagship store on London’s Regent Street after striking a deal with the Crown Estate, the holding company for the Queen’s property assets," according to the The Times Online .

"The deal with the Crown Estate, forms part of an ambitious £500 million plan to improve Regent Street over the next ten years. Apple will take space in the Crown’s first redevelopment at 229-247 Regent Street. The store is expected to open in time for Christmas."

The 20,000-square-foot outlet is expected to cost Apple about £1.5 million a year in rent, and would mark its first flagship store in Europe.