Boohoo’s £60m sale its London office has suffered a fresh blow after a prospective buyer reportedly abandoned negotiations to buy the property.
According to The Telegraph, an Israeli investor is understood to have pulled out of talks to acquire the fashion retailer’s Soho office following concerns raised by a survey.
Boohoo bosses put the 43,963sq ft six-storey building at 10 Great Pulteney Street up for sale in August in a bid to meet a £47m debt repayment due in August next year.
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The group paid £72m on the office in 2021 and it is expected to make a loss on the sale.
A spokesman for Boohoo told the publication: “We are in active negotiations with regard to the sale of our London office.”
The news comes as the retailer’s shareholders are set to vote on Friday (20 December) to settle the ongoing clash between the fashion group and Frasers, as it attempts to appoint Mike Ashley and restructuring expert Mike Lennon on the Boohoo board.
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