Ikea is understood to have entered into an agreement to purchase 214 Oxford Street for £385m.
The store space was formerly home to the flagship store of the jewel in Sir Philip Green’s Arcadia empire, Topshop, measuring 100,000 sq ft.
Ikea has also bought the 73,000 sq ft NikeTown and a 4,700 sq ft Vans shop, both adjacent to the Topshop space, as originally reported by React News.
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