You are using an older browser version. Please use a supported version for the best MSN experience.

Money Top Stories

Vans signs lease for former Miss Selfridge store in Oxford Street

Press Association logoPress Association 11/07/2019 By Alys Key, PA City Reporter
a group of people walking down a street next to a building: The Oxford Street branch is one of a clutch of Miss Selfridge stores closing under Arcadia’s restructuring plans (Anthony Devlin/PA) © Anthony Devlin The Oxford Street branch is one of a clutch of Miss Selfridge stores closing under Arcadia’s restructuring plans (Anthony Devlin/PA)

Skater shoe brand Vans is to take over the central London shop which was previously occupied by Miss Selfridge, one of Sir Philip Green’s fashion brands.

Sir Philip’s Arcadia fashion empire secured approval last month for a raft of 23 store closures and rent cuts as part of a Company Voluntary Arrangement (CVA).

Separate from the main CVA were plans to shut an additional 25 Miss Selfridge and Evans stores.

Miss Selfridge’s flagship Oxford Street location was one of those affected, with the outlet moving into the neighbouring Topshop.

A logo is pictured on a sign outside a Miss Selfridge store, operated by Arcadia, in London on June 12, 2019. - Landlords and other creditors were on Wednesday set to vote on revised proposals to billionaire Philip Green's Arcadia retail empire, which includes the high-street brands Topshop, Miss Selfridge, Burton, Dorothy Perkins, Evans and Wallis. (Photo by ISABEL INFANTES / AFP)        (Photo credit should read ISABEL INFANTES/AFP/Getty Images) A logo is pictured on a sign outside a Miss Selfridge store, operated by Arcadia, in London on June 12, 2019. - Landlords and other creditors were on Wednesday set to vote on revised proposals to billionaire Philip Green's Arcadia retail empire, which includes the high-street brands Topshop, Miss Selfridge, Burton, Dorothy Perkins, Evans and Wallis. (Photo by ISABEL INFANTES / AFP) (Photo credit should read ISABEL INFANTES/AFP/Getty Images)

Vans, which is known for its rubber-soled shoes designed for skateboarding, hopes to move into the building before the busy Christmas period kicks off.

The store will be one of the brand’s largest locations in the world, and will have one of the biggest ranges of stock in Europe.

Arcadia, which was advised by Savills, remains the landlord of the building.

LONDON, ENGLAND - JUNE 11: Shoppers walk past a Miss Selfridge fashion retail shop entrance on Oxford Street on June 11, 2018 in London, England. (photo by John Keeble/Getty Images) © 2018 John Keeble LONDON, ENGLAND - JUNE 11: Shoppers walk past a Miss Selfridge fashion retail shop entrance on Oxford Street on June 11, 2018 in London, England. (photo by John Keeble/Getty Images)

Vans owner VF Axtell was advised by CBRE.

It is one of the first in what is likely to be a string of new tenants moving into former Arcadia premises in the coming months.

Signage can be seen outside a Miss Selfridge store, owned by Arcadia Group, in central London, Britain June 5, 2019. REUTERS/Henry Nicholls © Thomson Reuters Signage can be seen outside a Miss Selfridge store, owned by Arcadia Group, in central London, Britain June 5, 2019. REUTERS/Henry Nicholls

Speaking to PA at the time of the contentious CVA, an Arcadia landlord said the units occupied by its brands were easier to fill than larger sites such as the former BHS stores, many of which remain empty three years on from the chain’s collapse.

MSN are empowering Women In Sport this summer. Find out more about our campaign and the charity fighting to promote the transformational and lifelong rewards of exercise for women and girls in the UK here.

AdChoices
AdChoices
image beaconimage beaconimage beacon