Sullivan puts flagship site up for sale
The store which us located at 395-397 Oxford Street is owned by Sullivan’s investment vehicle Conegate which has a long leasehold with 137 years unexpired and is 100% let to the shoemaker until 2038. The property currently brings in rent of £1,600,000 per annum it is claimed.
CBRE is understood to have been appointed to advise on the sale.
In November Sullivan’s company Conegate sold Wingate House, a 70,000 sq ft mixed-use building in London’s Soho area, to BC Partners’ recently established real estate arm for a reported £81m. Conegate has 24 property holdings in London and the South of England, according to CoStar. The lion share of the assets are said to be retail properties.
According to The Sunday Times Rich List in 2019, Sullivan is worth £1.15bn much of it coming from his property holdings.