Billionaire Mike Ashley is best known for his cheap sports gear but he wants at least £38 million for the West End headquarters of Sports Direct.
Ashley, keen to cash in on soaring commercial property prices, has appointed agents Michael Elliott and Savills to find a buyer for 120 New Cavendish Street.
The cash would be a handy boost for the group, which saw slowing sales over Christmas and New Year, partly because of a sluggish ski season across Europe. The property is also occupied by online fashion retailer MySale, backed by Sir Philip Green and Ashley.
The Standard understands Sports Direct will move staff into smaller offices across the capital. Competition for the site is set to be fierce because of its scope for much higher rents or conversion into luxury flats.
