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Court action over "TK Maxx" Piccadilly site called off

Legal action over the Crown Estate’s decision to veto the letting of a site on Piccadilly Circus to TK Maxx has been called off.

Leaseholder Criterion Capital had threatened court action against the Crown Estate, which owns the freehold of the site to the south of Piccadilly Circus, after it blocked the letting of the unit to TK Maxx because it was a discount retailer.

However, Criterion has decided to open a souvenir shop on the former Virgin Megastore site instead, called Cool Britannia, rather than leave it empty.

The court case will not go ahead.

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