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Sports Direct offers up Lillywhites London lease

Sports Direct could be on the cusp of ditching its Lillywhites store on London’s Piccadilly Circus, having reportedly put its lease on the market. 

The six-floor, 67,700 sq ft store’s 97-year lease has been put on the market.

A sale could mean the removal of the Lillywhites name from the spot where the sports department store has traded since 1925. 

It is thought that rents for new occupiers could be as much as £4m a year, despite Sports Direct reportedly paying less than £1m annually. 

Lillywhites was founded in 1863 by members of the Lillywhite cricketing family. It was then owned by the Forte family for many years before they sold it to Portuguese retail group, Jerónimo Martins, for £28.5m in 1995. Sport’s Direct’s chief executive, Mike Ashley, bought it in 2002. 

Sports Direct declined to comment. 

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