Topshop’s Oxford Street store in central London has reportedly been formally launched to market with a £420 mln (€486 mln) price tag.
According to a news report by the Sunday Times, the sale process – named Project Infinity - is being advertised as an opportunity to introduce a ‘new-age retail concept’.
PropertyEU reported in January that Eastdil was appointed as agent on the sale on behalf of KPMG, which was appointed administrator following the collapse of UK fashion giant Arcadia in December.
The 90,000 sq ft six-storey building at 214 Oxford Street also houses Nike’s biggest store in Europe and a shop let to footwear brand Vans. There is office space on the upper floors.
The majority of the proceeds from the sale will be paid to Arcadia's largest lender, US private equity firm Apollo, while its pension scheme is also likely to be in line for a payment.
