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Published
Dec 17, 2015
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Ted Baker buys its "Ugly Brown Building" head office

Published
Dec 17, 2015

It's not the most beautiful space, but to British fashion brand Ted Baker, "The Ugly Brown Building" in St Pancras is home. Now the brand has made it official, by buying the head office location from Leysin Investments Limited.

Photo: Ted Baker

Ted Baker has entered into a contract to buy the 78,920 sqft. building for £55.25m, plus costs of £3m. The purchase will be financed by a £60m secured term loan. The acquisition removes Ted Baker's exposure to rent hikes, a common reason for London-based brands to buy their stores and head offices.

British Airways Property Trustees Limited ("BAPTL") has agreed to purchase Blocks A and C next to The Ugly Brown Building and given Ted Baker a unilateral option to purchase 50% of Block A. This means Ted Baker could potentially be expanding as its operations grow.

Commenting, Ray Kelvin CBE, Founder and Chief Executive, said: "The Ugly Brown Building has become an iconic building in a rapidly developing central London location and a very important ingredient of Ted Baker's history and unique personality. We are delighted to have secured our future in this excellent location as Ted Baker continues to develop as a global lifestyle brand. We are confident that this will help us preserve our culture and to continue to attract and retain great talent. This is great news for our business, our brand, and our people."

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