Six Toys R Us stores could sell for £40m

2441

Six more Toys R U stores are expected to go for £40 million as FI Real Estate Management continues to sell the retailer’s store portfolio.

Fl Real Estate Management was appointed to handle the Toys R Us UK’s assets after it collapsed into administration earlier this year.

The firm reported that six properties in Cardiff, Liverpool, Plymouth, Shrewsbury, Woking and York were sold last month for £30.5million.

Of the remaining 25 assets now available, nine are earmarked for redevelopment, 13 for retail lettings and three for sale.

“We currently have a number of properties under offer, heads of terms issued for pre-lets, and planning applications being developed for the remaining assets,” a FI Estate Management spokesperson said.

“The market is still buoyant and we are wholly confident that we will achieve a healthy return for the residual assets,” they added.

It’s thought there could be an addition £111.5 million additional sales in the pipeline of Toys R Us’s assets managed by FI.

The retailer announced it would wind down it operations in the UK in April this year with the closure of its remaining 75 stores, leaving 2000 people redundant.

Toy retail giant Smyths bought up Toys R Us’ entire store network across central Europe, consisting of 93 stores in three countries.

Toys R Us went on to sell all of its intellectual property to pay off creditors in what is believed to be one of the most valuable brands ever sold by a failed company.

Click here to sign up to Retail Gazette‘s free daily email newsletter