boohoo group plc (LON: BOO), a leading online fashion group, has announced that it has completed the sale of its London office, located on Great Pulteney Street, Soho.
The property has been sold for £49.5m in cash to Global Holdings UK Limited, an independent property fund. The action taken to dispose of this non-core and non-strategic asset will further strengthen the company’s balance sheet.
Part of the proceeds will be used to pay down, in full, the remainder of the term loan, which was due for repayment in August 2025. This will leave the business with a £125m revolving credit facility which is sufficient for its needs going forward.
Founded in Manchester in 2006, boohoo group is a fashion forward, inclusive and innovative business. The Group’s brands are complementary, vibrant and scalable, delivering inspirational, on-trend fashion to our customers 24/7.
