Ikea has bought the Topshop flagship store on Oxford Street.
In a move that cost £378m, the new Ikea store will open in autumn 2023. The transaction is expected to be finished in January 2022.
“We are delighted to have exchanged contracts on this iconic property, which sits at the cornerstone of London’s principal retail district,” Ed Boyle, who is the managing director at Interpath Advisory and joint administrator of Redcastle.
“We are delighted to have exchanged contracts on this iconic property, which sits at the cornerstone of London’s principal retail district. As shoppers, workers and tourists return to central London following the pandemic, IKEA’s presence in Oxford Circus will help further boost footfall and provide a real fillip for the city’s retail sector,” he added.