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Sir Philip Green sells former BHS HQ

Sir Philip Green has sold the former BHS headquarters in London as his retail empire struggles with tumbling sales and rising property costs, it has been reported.

The Arcadia Group owner has sold Marylebone House in central London to property investment company Aprirose for £44m, The Sunday Times reported.

The building has reportedly been owned by Arcadia since 2016.

It comes after Green was said to have launched a review of Arcadia Group and hired advisers from Deloitte to explore a raft of store closures in January.

Meanwhile, Arcadia has reportedly closed 210 shops over the last two years, representing around a fifth of its store portfolio.

Arcadia Group owns retailers including Burton, Dorothy Perkins, Evans, Miss Selfridge, Topman, Topshop and Wallis, among others.

Drapers has contacted Arcadia for comment.

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