What: In what could have a major impact on the central London department stores mix, the Fenwick family is reportedly seeking to sell its Bond Street flagship store for redevelopment.

Why it is important: The Sunday Times reported that the site is on the market for GBP 500 million “after a plan to sell the entire chain was scuppered by the pandemic”. It was reported that the department stores group was set to be sold to Central Group just before the pandemic struck.

At that stage, it’s unclear whether that means an end to department store retailing on the site or whether developers would make the most of the existing planning permission the company has. The Bond Street store has permission for four floors of offices above the 131-year-old building.

The newspaper said that potential buyers are believed to include luxury giant LVMH — fresh from its La Samaritaine redevelopment in Paris — and Sir Stuart Lipton, who was behind the Broadgate development in the city.

Fenwick’s Bond Street store for sale?