Ikea to launch in Topshop’s former Oxford Street flagship

Ikea Topshop
The deal brings Topshop's 56-year tenancy on the street to an end
// Ikea will buy Topshop’s former flagship Oxford Circus store
// Proceeds from the sale will be used to pay Topshop’s former parent company Arcadia
// The deal is worth £385m

Ikea has reportedly confirmed it will purchase Topshop’s former flagship Oxford Circus store in a £385 million deal.

Proceeds from the sale will be used to pay Topshop’s former parent company Arcadia Group’s creditors and deficits in the company pension fund, The Telegraph reported.

Sir Philip Green’s Arcadia collapsed last November, which resulted in Asos buying its brands – including its flagship brand Topshop – and announced plans to dispose of all physical stores.


READ MORE: Ikea faces shortages across 1000 product lines


The deal means Ikea will now have a presence at the heart of London’s shopping district.

Ikea previously sought to take over BHS’ location on Oxford Street, and had also enquired about a site at a nearby redevelopment on Cavendish Square.

The deal brings Topshop’s 56-year tenancy on the street to an end. It moved to Oxford Circus in 1965.

Returns from the sale will be used to reimburse senior lender Apollo Capital Management.

Leftover funds will go into plugging the £510 million deficit in Arcadia’s pension scheme.

The deal for the Oxford Circus store follows an agreement with US real estate giant Trammell Crow for Arcadia’s former warehouse in Milton Keynes, as numerous Arcadia assets are on the market.

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2 COMMENTS

  1. 1. Ikea are Sweden’s largest food exporter. I’m sure they will do something dynamic at 214 Oxford st. Already at the Pisa store you place your tray of food in a bay, it reads what you have and then waits for your credit card. No human interaction.
    The Ikea planning studio in Tottenham court road ( although now closed ) I’m sure pointed the way for showing people what they might want before fulfilling the order from wherever it might suit Ikea to deliver from.
    With their global presence , unbelievable resource strength and design power they can essential sell what they want and use Oxford street to push the boat in new directions.

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