The news around Boohoo Group continues to come thick and fast with several developments on Monday.

The company said that it has completed the sale of its London office on Great Pulteney Street in Soho. That followed reports days earlier that a bidder had walked away from a deal for the building that had cost Boohoo £72 million but that was expected to fetch around £60 million.

The property has actually now been sold for £49.5m in cash to Global Holdings UK Limited, an independent property fund, and Boohoo said “the action taken to dispose of this non-core and non-strategic asset will further strengthen the company’s balance sheet”.

Part of the proceeds will be used to pay down, in full, the remainder of the term loan, which was due for repayment in August 2025. This will leave the business with a £125m revolving credit facility “which is sufficient for its needs going forward”.

The building’s new owner said: “Following the acquisition, 10 Great Pulteney Street will be managed by Global Holdings Management Group, which develop, advise and manage the real estate assets of Global Holdings Group.  The team will work closely with Boohoo to ensure the workspace continues to provide the amenities and wellbeing credentials to help them attract and retain talent.”

Boohoo Group also confirmed that Dan Finley, the Debenhams CEO who it has also appointed its group CEO has just been formally appointed a director of the company and a member of the board of directors.

As for the news last week that Mike Ashley had lost his bid to gain a seat on the Boohoo board for himself and for his associate Mike Lennon, Frasers issued just a brief statement on the subject.

It said: “Frasers notes the result of the general meeting of Boohoo Proup announced on 20 December 2024. Frasers respects the views of the independent shareholders. Frasers takes note of Boohoo’s invitation to propose a board candidate other than Mr Ashley or Mr Lennon. We will put forward a highly qualified candidate in due course and fully expect Boohoo’s board to uphold their commitment without hesitation or delay.”

It will certainly be interesting to see who proposes and whether that individual will be acceptable to Boohoo.