RETAIL PROPERTY NEWS
Ikea to buy former Topshop flagship in £385m deal
9 September, 2021 | by Natalie Fresen
Ikea has entered into an agreement to purchase 214 Oxford Street for £385m.
The Grade II listed building was formerly home to the flagship store of the Sir Philip Green’s Arcadia empire, Topshop, measuring 100,000 sq ft.
Ikea said last year it had drawn up a list of 40 major cities around the world to “introduce their vibrant, urban destinations”. Ikea currently has a kitchen and bedroom planning studio in Tottenham Court Road. Last year, it revealed plans to open a store in Hammersmith, West London.
Ikea has also bought the 73,000 sq ft NikeTown and a 4,700 sq ft Vans shop, both adjacent to the Topshop space, as originally reported by React News.
