The iconic Topshop flagship building located at Oxford Circus in London is now up for sale, marking the latest development in the break-up of the Arcadia fashion retail empire. The building, owned by Redcastle (214 Oxford Street) Limited, is heavily mortgaged, and real estate firms Eastdil and Savills have been appointed to oversee the sale and provide guidance on potential leasing options.

Eastdil will focus on managing the sale strategy, while Savills will offer advice on leasing possibilities. This implies that there is a chance that if the retail operation is sold to a company interested in maintaining physical stores, Topshop may vacate the space.

The property served as collateral for a loan of over £300 million from Apollo Global Management to Arcadia around a year ago. Consequently, the majority of the sale proceeds will directly benefit Apollo. However, depending on the final sale price, the Arcadia pension scheme could also receive a significant payment.

The Topshop flagship building is highly valuable due to its prime location on Oxford Street, near Regent Street. Once regarded as a must-visit destination for shoppers on both ends of the budget spectrum, the brand’s popularity has dwindled in recent years, mirroring its declining fortunes.

The sale of the Topshop Oxford Circus flagship takes place amidst the ongoing dissolution of the Arcadia empire, which includes other renowned brands like Dorothy Perkins, Burton, and Miss Selfridge. Thus far, the only confirmed sale has been Evans, which was acquired by Australian company City Chic.

Due to the building’s significance and potential, it is anticipated to garner substantial interest from potential buyers. Industry observers and consumers alike will closely monitor the future of this iconic location as a new chapter unfolds for Topshop.

Useful Links:
1. Savills – Official website for Savills, the real estate firm providing guidance on the property’s future.
2. Eastdil – Official website for Eastdil, the firm responsible for managing the sale strategy.