Fashion brand Ted Baker buys out London HQ for €75m

UK fashion retailer Ted Baker has bought its own headquarters in King’s Cross, London, for £55.3 mln (€75.3 mln).

Big Lobster Limited, a wholly owned subsidiary of Ted Baker, acquired the property on St Pancras Way, known as The Ugly Brown Building, from Leysin Investments.

The company said it had purchased the site to remove the risk of rent increases and create opportunities for expansion. Ted Baker had been paying €1.18 mln a year in rent for The Ugly Brown Building.

The deal includes an option to acquire 50% of the adjacent building within the next 15 months for £5.1 mln.
The building and another in the same row have been acquired from Leysin Investments Ltd by British Airways Property Trustees Ltd.

In a statement, Ted Baker said: ‘The board believes that the acquisition and option are highly attractive to Ted Baker as they offer an excellent opportunity to take ownership of its existing head office and potentially acquire new additional space for expansion as the company’s operations continue to grow.’