The sale of Topshop’s Oxford Street flagship store has kicked off, with buyers guided towards a £420 million price tag for one of the most valuable assets in Sir Philip Green’s fallen empire.
In marketing materials for the Grade II listed building, the store is advertised as an opportunity to introduce a “new age retail concept”. The building was valued at £500 million two years ago, but retail property values have since crashed.
The sale process — dubbed Project Infinity — is being run by real estate adviser Eastdil Secured on behalf of KPMG, which was appointed administrator to Redcastle 214, the company that held the building when Arcadia collapsed last November. The six-storey site also houses Nike’s biggest store in Europe and a shop
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2021-05-01 23:01:00Z
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