A new IKEA store on Oxford Street coming soon?

Devanture d'un magasin Ikea en Angleterre
By Marcox Audinet | Posted on 09/27/2021 at 5:34 pm Updated on 09/27/2021 at 5:46 pm

Negotiations are underway to take over the lease of the vacant 214 Oxford Street to a Swedish furniture company following the recent closure of the Topshop store.

At the beginning of 2021, the clothing brand Topshop’s stores were gradually closed due to the epidemic. Among them, their first is located on the most famous street in London: Oxford Street. It is a deity to Ikea who considers it an opportunity to set in the heart of the English metropolis.

A dream match on London’s most famous street

There will be Ikea ” Near to make a deal About the 214 Oxford Street Lease. The brand is not only interested in the premises occupied by Topshop but also covers an area of ​​more than 9,000 m2 and the entire building including Nike Town and Vance Store in addition to 38 385 million.

This potential investment testifies to the good health of the Swedish giant, whose net income increased in 2020, in stark contrast to the health status of most large groups. Many companies have experienced the effects of Govit-19, for example closures such as Gap or Topshop stores..

The furniture brand currently has five-point sales around the capital. Establishing an IKEA in the center of Oxford Street is similar to the charm of this famous London artery, the performance of which is often affected by health restrictions.

What does Ikea prepare?

This is not the first time IKEA has entered Soho since it put up a furniture brand Planning Studio On Tottenham Court Road, which closed last July. This new, smaller shop format focuses on the kitchen, dining room, bathroom and bedroom and allows you to meet with experts to improve your project. The room of his dreams .

The question that arises on this new project is about the design chosen by the Swedish brand: will the Oxford Street Store, there too, only allow orders to be taken, or will London establish a true IKEA in the heart? It is difficult to imagine this last option considering the restrictions imposed by the high center of a metropolis like London, but the purpose of the project raises questions about IKEA’s aspirations.

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About the Author: Cory Weinberg

Cory Weinberg covers the intersection of tech and cities. That means digging into how startups and big tech companies are trying to reshape real estate, transportation, urban planning, and travel. Previously, he reported on Bay Area housing and commercial real estate for the San Francisco Business Times. He received a "best young journalist" award from the National Association of Real Estate Editors.

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