Fashion retailer Liberty has agreed a sale and leaseback deal on its West End store.
Fashion retailer and department store group Liberty has agreed a sale and leaseback arrangement on its flagship building in London's West End, which may interest those seeking
sources of finance for
property investment.
The freehold interest on the 125,000 sq ft store off Regent Street was sold to property investment company Sirosa for £41.5 million, in a deal which will see Liberty take a 30-year lease on the building at an annual rent of £2.1 million.
Liberty has also received approaches regarding the acquisition of the firm, which could lead to an offer being made for the retailer.
"At this stage, it is too early for the board to determine whether or not these discussions will result in any formal offer being made for the company," the organisation said in a statement.
Property company Derwent recently predicted a bright future for London's West End, shortly after announcing its financial results.
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