Sports Direct is looking to move into HMV’s flagship store on Oxford Street, in a significant step for Mike Ashley’s discount sportswear group.

Sports Direct is in talks to take on the huge store at 150 Oxford Street, which is understood to cover 58,000 sq ft, as HMV prepares to move out to a new store along the road, according to The Times.

Entertainment retailer HMV is close to agreeing a deal that would return it to its 1921 historic home at 363 Oxford Street where Sir Edward Elgar opened his first His Master’s Voice shop.

It is commemorated with a plaque that names it the “world’s most famous music store”.

Sports Direct already has a store on the street, although it is much smaller. It also owns the 150-year old Lillywhites store at Piccadilly Circus.

Sports Direct is believed to be ready to pay a premium of between £2.5m and £5m for the store, according to the paper.

 

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