Ingka Centres, the property division of Ikea Group, which is the world’s biggest furniture retailer, bought and reinvented a massive mall in Hammersmith’s High Street in west London for £170m ($222 million). The deal marks the start of IKEA’s transformation into the UK market, with a full push into the traditional high street. It is also as the Ingka Center’s debut in the UK market and its first shopping mall acquisition through the year.
![](http://en.homelifestyle.cn/wp-content/uploads/2021/01/640.png)
IKEA will open a new boutique store in Kings Mall with 27,000 square meters, the first project of the group’s multi-billion euro transformation strategy. The sale was made by a UK property fund run by Schroders Asset Management, which bought the site and surrounding office buildings for $153 million in 2015.