Six former Toys R Us stores have been sold off across the country in deals worth a collective £30.5 million.
Fl Real Estate Management, which was appointed to handle the Toys R Us UK’s assets after it collapsed into administration earlier this year, sold a total of 222,319sq ft of retail space to various buyers.
Its former unit in Cardiff was handed over to the council, while three more in York Shrewsbury and Liverpool were sold to an undisclosed retailer.
Another two units in Woking and Plymouth were also handed to separate unnamed buyers.
“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,” a Fl Real Estate Management spokesperson said.
“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. We are also in the final stages of securing a further four sales and are in negotiations to split many of the units to let to strong retail brands.”
In April, Toys R Us’ rival Smyths announced it would purchase every former store across central Europe, totalling 93 stores spanning three countries.
A month later, Toys R Us’ intellectual property rights including its own name, its Babies R Us brand and its famous Geoffrey the Giraffe logo was sold to help pay off debts its debts to creditors.