IKEA linked to Oxford Street site

A recent article published on Retail Week suggests that IKEA is looking to open a small-fomat store in central London.

Specifically, IKEA is understood to be reviewing space in the BHS store in Oxford Street, which was recently sold to Oxford & City Holdings for £55m. 

A Polish fashion retailer is believed to have signed a pre-let agreement for the front part of the store while IKEA could potentially take on the remaining space at the rear.  Speculation that IKEA was looking to move into central London has been circling since at least November last year, when the Sunday Times reported on BHS’ plans to raise money through the sale of the site.

Back in June 2015, Gillian Drakeford, Ikea UK Country Manager, said: 'We are extremely excited to announce our plans to test and explore Order and Collection Points as an addition to our current sales channels. 

'We know that consumers in the UK like to shop across many channels and using multiple devices. Our customers are also telling us that with 18 stores in the UK, we are often too far away. 

'Order and Collection Points give us the opportunity to trial new ways of being more accessible to our customers.'

Source : Insight DIY