Boohoo offloads Soho office

Part of the £49.5m will be used to pay down the remainder of Boohoo Group's £97m term loan, which was due for repayment in August 2025.

This will leave the business with a £125m revolving credit facility that runs until October 2026, "which is sufficient for its needs going forward", the group announced this morning.

The sale of the 43,963 sq ft Soho office, located at 10 Great Pulteney Street, "will further strengthen the company's balance sheet," the business added.

Drapers exclusively revealed in August that Boohoo Group was intending to offload the property.

On Friday, Boohoo Group's shareholders voted against electing Mike Ashley or Mike Lennon to its board, following months of back-and-forth between the rival retailers.

This morning, (23 December) Frasers issued a statement saying that it had taken "note" of Boohoo Group's invitation to propose a different candidate, and that it will put one forward in "due course".