A few weeks ago, I highlighted how a number of 'big-box stores' within central London have slim-lined their efforts and pointed out the plans to revamp Oxford Street. This week it is understood that the global home furnishing brand that brings affordability, design and comfort to people all over the world has purchased more than 175,000 sq ft of prime West End real estate.
Ikea UK have paid £385m for the Topshop flagship on Oxford Street as well as purchasing the adjacent NikeTown and Vans units for what will presumably become a new central London homeware superstore.
Whilst empty shops are never what anybody wants to see, it remains to be seen whether another large brand (albeit operating in a different sector to its predecessors) can succeed where others before it have failed.
Ikea is understood to have agreed a £385m deal to take over the former Topshop Oxford Street flagship store.