Tue, 02 Mar 2010 | BUSINESS SALE
The freehold of Liberty's flagship store in London's West End has been put up for sale. Property agent Knight Frank has placed a £40m price tag on the property, which has an easily recognisable frontage with mock Tudor beams.
The 134 year-old retailer, which is 68% owned by MWB Group, shrugged off the recession and saw its sales rise by a fifth in 2009.
After a sale, Liberty would remain in situ and lease the department store, which is located just off Oxford Street.
Its majority owner MWB aims to bring in new investors and partners to assist in plans to expand the brand, giving it a global presence.
MWB's chairman, Richard Balfour-Lynn, said that several parties have made their interest in the property known, which could lead to "an acceptable offer being made".
It is thought that the sale is likely to attract the interest of London property specialists Shaftesbury and Great Portland Estates, as well as overseas investors.
UK commercial property values rose by 1% in January, following five previous monthly gains in capital values, which has led to increased confidence in the market.
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