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Liberty mulling London business property sale
Liberty has revealed it is considering the sale of its flagship store in London's West End.
The retailer said in a statement that "a number of parties" have shown interest in acquiring the Tudor House commercial property from Liberty, which is partly owned by the MWB Group.
It added that this "may lead to an acceptable offer being made for the freehold".
The business property, which is located near Regent Street, measures 12,000 sq ft and the deal would involve the site being leased back to Liberty so that it could continue to use it as the base for the store, which describes itself as one of "London's most eclectic, but accessible, design-led retailers".
Liberty noted that the flagship store's revenue climbed by 15% during 2009 when compared to figures from the previous year, while overall revenue was up 20% in the year to December.
As well as bricks-and-mortar sales, the company also operates an online shop selling men's and women's clothes and homeware.
The retailer said in a statement that "a number of parties" have shown interest in acquiring the Tudor House commercial property from Liberty, which is partly owned by the MWB Group.
It added that this "may lead to an acceptable offer being made for the freehold".
The business property, which is located near Regent Street, measures 12,000 sq ft and the deal would involve the site being leased back to Liberty so that it could continue to use it as the base for the store, which describes itself as one of "London's most eclectic, but accessible, design-led retailers".
Liberty noted that the flagship store's revenue climbed by 15% during 2009 when compared to figures from the previous year, while overall revenue was up 20% in the year to December.
As well as bricks-and-mortar sales, the company also operates an online shop selling men's and women's clothes and homeware.
Tue, 2nd Mar 2010