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IKEA To Buy Former Oxford Street Topshop Store

IKEA Belfast 725 x 500

Real estate publication React News has revealed that IKEA has agreed to buy the former flagship branch of Topshop in central London.

The £385m building on Oxford Street has eight floors (two basement floors, five floors at ground and above, and one mezzanine) and a total area of between 100,000 - 137,500 sq ft (reports on size vary). 

In May 2021, it was reported that the home furnishings retailer had been in talks with the owner of the store, which has been empty since January. 

In purchasing the leasehold of the building, IKEA also owns the two stores adjacent to the building: NikeTown and Vans, at 73,000 sq ft and 4,700 sq ft respectively.

IKEA has recently begun to charter shipping vessels and buy its own shipping containers in a bid to reduce supply issues. 

Source : Insight DIY

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10 September 2021

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