Fashion retailer Ted Baker said it was buying its currently rented London headquarters for £58.25m.
Known as “The Ugly Brown Building” in London’s St Pancras, the property costs Ted Baker £1.18m a year in rent and the chance to buy it “provides the company certainty over operating costs and removes the Company’s exposure to rising rent reviews”.
The company said it was also selling two blocks of the site to British Airways, but retained the right to buy back 50% of one if it decides to expand further.
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