Back
News

Flagship Fenwick store back on the block at £500m

The Fenwick family has revived plans to sell its flagship store at 63 New Bond Street, W1, for £500m.

Potential buyers are understood to include Sir Stuart Lipton and luxury group LVMH, which acquired and refurbished the Paris department store La Samaritaine.

The retailer’s former chairman Mark Fenwick is marketing the Bond Street store as a redevelopment opportunity.

The Fenwick family were on the brink of selling the entire business to Thai conglomerate Central Group a couple of years ago, only for the deal to be scuppered when the pandemic took hold in Italy, home to Central’s Rinascente department store. In December, Central agreed a £4bn deal to buy Selfridges.

Today, the Fenwick company is jointly owned by about 40 family members and trades from nine department stores, including outlets in Newcastle, York and north London’s Brent Cross shopping centre.

The family have been granted planning permission to build four floors of offices above the Bond Street store, where it has traded since 1891.

The Times (£)

Up next…