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Six former Toys 'R' Us stores sold for £30.5 million

Six former Toys ‘R’ Us stores have been sold to a range of buyers in deals worth £30.5 million.

GENERAL MERCHANDISE

Six former Toys 'R' Us stores sold for £30.5 million

Forming part of the Duke Portfolio, the combined square footage of the properties in Cardiff, Liverpool, Plymouth, Shrewsbury, Woking and York is 222,319 square feet.

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An undisclosed retailer has purchased three prime properties in Liverpool’s Paisley Street, Shrewsbury’s Meole Brace Retail Park and York’s Clifton Moor Centre to add 91,188 square feet to its portfolio of stores.

Meanwhile, Cardiff Council has completed the purchase of a 40,000 square foot unit opposite Cardiff International Pool.

The 41,360 square foot property in Woking has been sold to a private buyer and an undisclosed buyer has bought a 49,771 square foot unit on Western Approach in Plymouth city centre.

A spokesperson for FI Real Estate Management, said: “We recognised the appeal of a selection of properties within the Duke portfolio to successful out of town retail operators and as prime development opportunities. The six properties sold to date reflect the healthy appetite for prime sites and demonstrates our ability to unlock asset value by ensuring we utilise an intelligent and appropriate commercial approach.”

FI said it is also in the final stages regarding a further four sales and is currently in negotiations to split many of the units to let to retail brands.

 

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