71
Fashion Jobs
L'OREAL GROUP
Multi-Brand Education Manager
Permanent · JOHANNESBURG
L'OREAL GROUP
E-Commerce Manager
Permanent · JOHANNESBURG
BEIERSDORF
Brand Manager
Permanent · DURBAN
G-STAR
Key Account Manager
Permanent · CAPE TOWN
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
ESTÉE LAUDER COMPANIES
Marketing & Sales Operations Manager (Sub Saharan Africa)
Permanent · JOHANNESBURG
PUMA
Payroll Administrator
Permanent · CAPE TOWN
ADIDAS
Senior Manager Sales: Shoe Channel - em South
Permanent · CAPE TOWN
ADIDAS
Senior HR Business Partner (6-Months Maternity Cover)
Permanent · CAPE TOWN
L'OREAL GROUP
Product Manager
Permanent · JOHANNESBURG
TREK
Country Manager
Permanent · SANDTON
L'OREAL GROUP
E-Commerce Key Account Manager
Permanent · JOHANNESBURG
ADIDAS
ic pp Data & Analytics Specialist - em
Permanent · CAPE TOWN
BEIERSDORF
Precision Marketing & Audience Specialist
Permanent · DURBAN
CLINIQUE
Clinique - Roamer - Edgars Eastgate, Gauteng - 40 Hours - Full-Time - Permanent
Permanent · JOHANNESBURG
PANDORA
Sales Assistant Ppt 96 Hours Balito
Permanent · DURBAN
L'OREAL GROUP
Data Analyst
Permanent · JOHANNESBURG
HTNK
High-End Fashion/Denim Designer
Permanent · JOHANNESBURG
H&M
Talent Acquisition Specialist
Permanent · CAPE TOWN
ADIDAS
Specialist Franchise Excellence - Ems Africa Export
Permanent · CAPE TOWN
LOVISA
Full Time Team Member | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
LOVISA
Store Manager | v&a Waterfront, Cape Town
Permanent · CAPE TOWN
Published
May 4, 2021
Reading time
2 minutes
Download
Download the article
Print
Text size

Former Topshop flagship valued at £420 million

Published
May 4, 2021

One of the most distinctive landmarks in central London retail is up for sale. The former Topshop flagship on Oxford Circus, the jewel in the now-dismantled crown of Philip Green’s failed Arcadia Group empire, is expected to fetch up to £420 million.


Up for sale: Former Topshop flagship on London's Oxford Street - Photo: Nigel Taylor



US property investment bank Eastdil Secured is seeking a buyer, or buyers, for the 100,000 sq ft location, marking the end game for Arcadia after it collapsed into administration last November.

The sale process has been named ‘Project Infinity’ by administrators at KPMG, who were appointed to oversee Redcastle (214 Oxford Street) Limited, the Arcadia company that officially owned the building.

The private equity firm Apollo will receive the first £311.6 million of its sale as Redcastle’s senior secured creditor. The Arcadia pension fund is the second secured creditor, according to administrators’ proposals.

The building was valued at about £500 million as recently as two years ago, according to the Sunday Times, which first reported details of the sale process. 

However, property prices have fallen since the pandemic, accelerating a radical shift from physical retail to online. As a result, Oxford Street has already witnessed the loss of Debenhams department store  and a proposed reduction in selling space for other major retailers there, including John Lewis and Marks & Spencer.

Topshop, first owned by clothing retailer Burton, took over the basement of the Oxford Street building in 1965.

The Grade II-listed building was completed in 1923, with the listing noting its Portland stone cladding and its classical style with Beaux Arts details. It's located on the junction of Oxford Street and Regent Street and currently also houses the Nike flagship store and a Vans footwear store that moved into the space formerly occupied by Arcadia's Miss Selfridge brand.

According to reports, a number of retailers are thought to be interested, including JD Sport Fashion, Frasers Group, Amazon and Nike, while Swedish fashion giant H&M and online fast fashion retailer Boohoo are also understood to have made enquiries.

KPMG and Eastdil Secured have yet to officially comment.

Copyright © 2024 FashionNetwork.com All rights reserved.