Boohoo Group is considering the sale of its office building in Soho, London, purchased for £72m in 2021.
- The 43,963 sq ft office is located at 10 Great Pulteney Street and currently houses 400 to 500 employees.
- Boohoo Group intends to conduct a sale and leaseback transaction to remain in the building post-sale.
- Discussions with prospective buyers are underway, though exact listing details remain unclear.
- The move is part of Boohoo’s strategic financial assessments, amid exploration of refinancing options.
Boohoo Group is contemplating the sale of its office located in Soho, London, which it acquired in 2021 for £72 million. The office, situated at 10 Great Pulteney Street, spans 43,963 square feet and is currently home to between 400 and 500 employees.
The building accommodates various departments from Boohoo’s London-based brands, such as Karen Millen, Coast, Oasis, Debenhams, Dorothy Perkins, Burton, and Wallis. These brands were integrated into Boohoo Group through acquisitions between 2019 and 2021. The office also includes product, marketing, technology, and central support roles across the group.
Boohoo Group’s strategy includes a sale and leaseback arrangement, ensuring that the group continues to operate in the building even after the sale is finalized. The office was marketed in the region of £60 million last year, although current listings are yet to be clarified.
In a notable development, Debenhams established a beauty showroom on the office’s ground floor in September 2023, with plans to introduce a new group showroom occupying 6,000 square feet. This comes after the former showroom on Great Portland Street was closed earlier this year.
Recent reports reveal that Boohoo Group’s lenders have engaged FTI consultants to explore refinancing strategies. Boohoo Group currently holds a £325 million unsecured revolving credit facility, with £75 million due in the coming year and £250 million by 2026.
Boohoo Group’s decision to explore the sale of its Soho office reflects its ongoing financial and operational evaluations.
