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Ikea owner buys Topshop’s former London flagship store
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The owner of Ikea has bought Topshop’s former flagship store on Oxford Street, once the jewel in Sir Philip Green’s retail empire, for an estimated £378m, creating a new central London home for the Swedish furniture brand.
The deal to buy the long leasehold on the building, which includes the now vacant 9,290 sq metre (100,000 sq ft) Topshop outlet as well as a Nike Town store and a shop used by footwear brand Vans, will complete in January after a conditional purchase contract was signed.
It completes the sell-off of the assets of Green’s Arcadia Group empire, which collapsed into administration in November last year.
Ikea said it planned to open a store in the building in autumn 2023, focusing on home-furnishing accessories. The retailer’s
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