Aquascutum is selling 100 Regent Street – its flagship for the past 110 years.
The retailer, famous for its luxury rainwear, is owned by Jaeger's Harold Tillman, who has hired property agent Cushman & Wakefield to sell its lease.
Mr Tillman hopes to sell for a seven-figure sum and relocate to a smaller store on Bond, Jermyn or Sloane streets. He rescued debt-laden Aquascutum in September 2009 from its Japanese owner, Renown.
Five bids are believed to have been made for the store's lease, including from the landlord, Great Portland Estates, which wants to choose the next occupier. Retailers with their eye on the store, which currently rents for £1.68m a year, include Harvey Nichols, for its new Beauty Bazaar concept; UK fashion brand Superdry; and Hollister, the American fashion chain owned by Abercrombie & Fitch.
Hollister and Superdry are also thought to have made unsolicited approaches for National Geographic's store across the road on Regent Street.