On October 26, Ingka Investments announced that they have signed a conditional purchase agreement to acquire real estate on one of London’s most iconic shopping locations – 214 Oxford Street, Oxford Circus, in London.
The property acquired is 239,000 sqft over seven floors and will have retail space on six of the floors, used by IKEA UK & Ireland. This is a way to bring IKEA closer to customers, as part of the transformation of Inkga Group’s retail business in response to new shopping behaviors and urbanization. Since 2019, Ingka Group has opened stores in for example Tokyo, Paris, New York and Moscow, and more major cities are planned.
Read more about it here