British Land Sells Debenhams Flagship Store On Oxford Street
British Land sold 334-348 Oxford St to a private investor for £400M. The seven-storey building is smack in the middle of the West End shopping district, and is let entirely to Debenhams until 2039.
This brings British Land’s total retail dispositions to nearly £500M for the year.
Since the Brexit referendum, British Land has exchanged 11 long-term retail leases totaling 50k SF. The leases include tenants Yo! Sushi, Nando’s, River Island, Pret A Manger, Byron and Waterstones. A further 210k SF of retail leases are under offer.
The firm's holdings are 99% occupied.