Lowndes Queensway have sold Hamleys toy store in Regent Street, W1, for more than £20m to specialist toy company Larchwood.
The price achieved is below that of market expectations for the world’s most famous toy store.
“We plan to restore Hamleys to its former pre-eminence in the toy world,” said Duncan Chadwick, a director of Larchwood, “with improved systems and customer services.”
All provincial Hamleys shops have now been closed and a management team has been established to return Hamleys to its role as a specialist toy retailer based in the centre of London. In the longer term, it is planned to expand the business into the USA, Europe and Japan.
Robert Baker of Shaw Associates advised Larchwood on Hamleys’ property interests and are to advise on the refurbishment and maintenance of the Regent Street store, as well as on the acquisition of new warehouse premises.
