Philip Green’s Former Topshop Branch Could Earn Him £2.5m
Philip Green, the former owner of Topshop, could earn up to £2.5m from the sale of the flagship store on Oxford Street in London. The store, which was once the jewel in the crown of Green’s retail empire, is being sold by the administrators of Arcadia Group, which collapsed into administration last year.
The sale of the store is expected to generate significant interest from investors, with some experts predicting that it could fetch as much as £420m. Green, who was once one of the UK’s richest men, is expected to receive a share of the proceeds from the sale, as he still owns the freehold of the building.
The former Topshop branch on Oxford Street is one of the most iconic retail spaces in the world, and has been a fixture on the high street for over 20 years. The store covers over 90,000 square feet, and is spread over four floors. It has been a popular destination for shoppers from all over the world, and has played host to numerous high-profile events and launches over the years.
The sale of the store is part of the wider restructuring of Arcadia Group, which also includes the sale of other high street brands such as Dorothy Perkins, Burton, and Wallis. The collapse of the group last year was a major blow to the UK retail sector, and led to the loss of thousands of jobs.
Despite the challenges facing the retail sector, there is still significant demand for prime retail space in London, particularly on Oxford Street. The street is home to some of the world’s most famous brands, and is a major tourist destination in its own right.
The sale of the former Topshop branch is likely to attract interest from a range of investors, including property developers, retailers, and overseas buyers. The building is expected to be sold for a premium price, reflecting its prime location and iconic status.
For Philip Green, the sale of the store will be a bittersweet moment. The collapse of Arcadia Group was a major setback for the businessman, who had built up a retail empire over several decades. However, the sale of the former Topshop branch will provide him with a significant windfall, and could help to restore some of his fortunes.
Overall, the sale of the former Topshop branch on Oxford Street is a significant event in the UK retail sector, and is likely to generate significant interest from investors around the world. While the collapse of Arcadia Group was a major blow to the industry, the sale of the store is a reminder of the enduring appeal of prime retail space in London, and the potential for significant returns for investors.
