The owner of London’s oldest bookstore has bought the former Central St Martin’s School of Art building at 107-109 Charing Cross Road, WC1.
The Foyle family has bought the 75,000 sq ft block, just a few feet from its current store, for a new flagship. The family’s Noved Investment Holdings has teamed up with Hines to develop a three-storey shop with flats above on the site.
Foyles had been in talks to buy the site for around £30m more than two years ago, but the deal collapsed as the credit crunch set in.
Its store at 113-199 Charing Cross Road will be available for redevelopment once it is vacated in two years.
Drivers Jonas Deloitte advised the vendor; DE&J Levy acted for Foyles.
