Fri, 09 Apr 2021 | COMMERCIAL PROPERTY
Topshop's flagship Oxford Street store in London is drawing attention from a number of major retailers after being placed on the market by its owner.
The store, which is currently controlled by subsidiary Redcastle Ltd, was not included in the sale of Arcadia Group assets that was overseen by administrators from Deloitte earlier in the year.
Instead, Redcastle has appointed KPMG as administrators for the site. The agent has subsequently gone on to appoint real estate agencies Eastdil and Savills to search for a buyer for 214 Oxford Street.
The 100,000 sq ft store was formally placed on the market at the beginning of April after Arcadia Group fell into administration in December. According to leasing advisor Savills, the nature of the property's future will depend on discussions with prospective buyers, and could include a purchase, lease or split lease arrangement.
According to KPMG, a number of retailers have already expressed an interest in the store, including JD Sports, Frasers Group, Amazon and Nike. The administrators have also been approached by H&M Group and Boohoo Group, the latter of which purchased Dorothy Perkins, Wallis and Burton from the Arcadia Group for £25.2 million in January.
Topshop - along with Topman, Miss Selfridge and HIIT - was purchased by Asos in a £295 million deal. However, CEO Nick Beighton stated that the brand will not be imminently considering placing a bid on the flagship store. He said: "We’ve always said we’d never say never. We haven’t got any immediate plans to do that."
As a result of the store's position, it will not be reopening when restrictions ease on non-essential retail in mid April.
One of the best ways to find properties below market price is to look at recent administrations.
Independent DIY business that has operated as one of the area’s preferred providers of DIY products for over 30 years. The store has built its enviable reputation based on stellar customer service and its wide range of great-value products.
The business was established in the 2010s, quickly outgrowing its original premises and moving into its current, larger workshop. The previous owner started the business in the South East of England 60 years ago from humble premises, gaining loyal cu...
An extremely well established business operating from a number of leased and owned premises located in excellent high streets in a number of fantastic trading positions with unprecedented footfall.
LEASEHOLD
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.