Linklaters advises on sale of iconic shopping site in London’s Oxford Street

Linklaters has advised Interpath Advisory on the sale of 214 Oxford Street – formerly owned by Arcadia and the home of their flagship Topshop and Topman store - to Ingka Investments, the investment arm of Ingka Group.

The transaction is expected to complete in January 2022. It will see the property in the heart of London’s Oxford Circus become IKEA UK’s second city-centre format store.

Redcastle (214 Oxford Street) Limited was a property-owning subsidiary of Arcadia Group and held the long leasehold interest in the 22,200 sqm / 239,000 sqft property. Prior to the lockdown measures introduced by the UK government in response to the COVID-19 pandemic, the Topshop and Topman store welcomed hundreds of thousands of customers through its doors each week.

The Linklaters team advising on the sale was led by R&I partner Richard Hodgson and managing associates Francesca Amey and Max Krasner. Banking partner, Scott Simpson, led the team for the senior secured lender in respect of the original financing and the sale together with managing associate James Godfrey and associate Angela Liu.