A rumour has resurfaced that Fenwick is seeking a buyer for its iconic Bond Street department store, which comes with a £500 million price tag. The Fenwick family’s decision to sell its flagship store comes after its original plan to sell the entire chain was laid to rest by Covid.
There were City rumours that a sale of the entire business to Thai conglomerate, Central Group, was almost concluded a couple of years ago, until the plan was scuppered by the pandemic. Central Group has since completed a £4 billion acquisition of Selfridges from the Anglo-Canadian Westons.
Former chairman of the business, Mark Fenwick, has positioned the Bond Street outlet as a redevelopment opportunity. Potential buyers are thought to include Broadgate in the City developer, Sir Stuart Lipton and French luxury brand owner, LVMH, which has already acquired and refitted Paris department store, La Samaritaine.
Some commentators have suggested that despite its high value Bond Street location, the £500 million price tag might be too high for some investors, whilst others have claimed that the Fenwick family is hoping to continue trading from the Central London store.
