Ingka, part of the IKEA group, has bought the Kings mall in Hammersmith from Schroders with the acquisition and future redevelopment valued at £170m. IKEA plans to open a new small “city” store format in the centre as part of a redevelopment.
Ingka say they are responding to changing retail trends. While they already have inner London locations in Greenwich and on Tottenham Court Road, the Hammersmith store will be a totally new format. As well as offering the entire IKEA product range available to buy from the store for home delivery, and over 2,000 items available to take away on the day, the retailer promises “a Swedish food offer”- the popular meatballs, and more.
The store is scheduled to open in Spring 2021. The redevelopment plans are likely to include commercial office space and new homes.
Schroders bought Kings Mall in 2015 for £153m. The centre is part of the same King Street block that includes the Lyric Theatre.