Sir Philip Green’s Arcadia group plans to exit its Dorothy Perkins store at 189 Oxford Street, W1.
Arcadia is understood to be assigning the lease on its 10,000 sq ft store, which expires in 2016, to health and beauty chain Boots. The passing rent is thought to be around £905,000pa although a rent review is outstanding.
Boots is exiting its store at 151 Oxford Street to allow landlord AXA Real Estate Investment Management to redevelop its block.
Norwegian fashion chain Bik Bok is quitting the UK after agreeing to sell its only store, at 181-183 Oxford Street, to Vision Express. The eyewear chain is taking a new 15-year lease with the private landlord on the 8,600 sq ft store and is thought to be paying a rent of around £875,000 pa.
Jones Lang LaSalle advised Vision Express; Harper Dennis Hobbs acted for the private landlord.
All parties declined to comment.
annabel.dixon@estatesgazette.com
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