Sunday, November 19, 2017

Debenhams Southampton building up for sale

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The owners of the building that houses the Southampton branch of Debenhams have put the site on the real estate market, with a reported £31.25 million price tag.

According to Property Week, the 285,303sq ft building is the biggest in Aviva Investors‘s retail portfolio.

It has five floors, with one used entirely for storage and staff.

The building, built in 1959, is currently let on a long lease to Debenhams with 17-plus years remaining.

It is also one of the largest stores in Debenhams‘ estate and the retailer has reportedly been in contact with Aviva about potentially downsizing the store, to help free up space for redevelopment.

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