General Projects and private equity fund KKR have acquired Heal’s building on Tottenham Court Road.

The focus of the new owners will be on preserving and restoring the landmark building while breathing a new life into the estate.

The site has been the flagship store of the legendary designer furniture retailer for over 200 years, although the current building wasn’t built until 1916.

The site comprises 187,000 sq ft of multi-purpose space across nine separate buildings.

The site is set to be redeveloped sensitively to continue Heal’s legacy whilst revolutionising the building into a hub for other creative, media and technology businesses to cluster.