A Topshop to face Harrods

Sir Philip Green is to open a giant Topshop store opposite Harrods after striking a deal with members of the Abu Dhabi royal family.

The 19,000 sq ft store at 70 Brompton Road is due to open at Easter and will become Topshop's highest-profile branch, taking over from the high street chain's flagship store in Oxford Street.

Sir Philip is hoping to cash in on the wealthy tourists who flock to Knightsbridge. His announcement comes just months after Topshop opened its biggest premises outside London, at the Liverpool One shopping centre.

The decision to venture into one of London's most expensive neighbourhoods will be regarded as a coup for the Abu Dhabi royal family, which owns the property, empty for several years, through Lancer Asset Management.

After a successful opening of the new Topshop store in New York in April, Sir Philip said he was keen to expand the chain across Europe and into China.