Austin Reed puts Regent Street flagship up for sale

Austin Reed has reportedly put its Regent Street flagship store up for sale, just months after undergoing a restructure and closing 31 stores through a company voluntary arrangement (CVA).

The men’s and womenswear tailor has appointed property agent James Andrew International to sell the lease on its 35,000 square foot store at 100 Regent Street, according to City A.M.

The lease, which expires in 2033, could fetch up to 20 million pounds, and due to its location and size it is expected to attract interest from both UK and international retailers.

Both James Andrew International and Austin Reed were unavailable for comment, but City A.M. is reporting that the fashion retailer will be looking to relocate its flagship to a smaller street in the West End and is currently reviewing a number of potential sites.