The high street billionaire Mike Ashley is leading a race to acquire a collection of London buildings in what would represent a further expansion of his burgeoning property empire.
Sky News understands that the businessman's Frasers Group has emerged as the frontrunner to buy the Worship Street Estate - a 195,000 square foot mixed-use space located where the City, Shoreditch and Tech City converge.
A sale process initiated by the City of London Corporation was initiated earlier in the summer, with sources saying that Frasers was now the likeliest buyer.
They cautioned, however, that a deal - worth about £75m - could yet fall through.
Other bidders named in earlier media reports included Ares Management, Oval Real Estate and General Projects.
Frasers Group has become a prolific buyer of strategically valuable property assets such as retail parks and shopping centres in recent years.
Sky News reported earlier in the summer that Mr Ashley's London-listed company was among the suitors for the Metro Centre in Gateshead, which has been put for sale with a price tag of about £500m.
His retail group, which owns brands such as Evans Cycles and Jack Wills, as well as Sports Direct and House of Fraser, is also among the bidders circling Harvey Nichols, the department store chain.
The City of London Corporation declined to comment, while Frasers Group has been approached for comment.
Agents at Kauffmans and Savills have been working on the sale of the Worship Street Estate.
(c) Sky News 2026: Ashley leads race to Worship £75m City real estate deal
Starlink could deliver majority of world's internet within 10 years, says Elon Musk
'Brutal' harvest could be worst on record - here's what it means for UK's food production
Oil giant BP profits more than double due to Iran war - again
