// Debenhams’ Ipswich unit has been sold to The Unex Group for over £3m
// The Unex Group is “exploring possibilities” for its use
// The group’s portfolio includes commercial and mixed use property investment
The Debenhams building in Ipswich’s Cornhill has reportedly been bought by The Unex Group, headed by property tycoon and racehorse owner William Gredley.
The Unex Group said it bought the four-storey building for more than £3 million and it was “exploring possibilities” for its use, Ipswich Star reported.
The group’s portfolio includes commercial and mixed use property investment and development in East Anglia and London.
The Unex Group is recognised for undertaking a number of developments across East Anglia and London.
Ipswich’s Debenhams store is located at Waterloo House which had been on the market for £5.5 million.
The sale is due to be completed at the start of next month.
Online fashion retailer Boohoo bought the Debenhams brand and website in January in a £55 million deal after the department store chain went into liquidation.
On April 12, the department store chain reopened 97 stores in England and Wales to complete its final closing down sale as part of its liquidation process, and would continue to trade for a limited number of weeks until the stock in the stores is fully cleared.
Debenhams said at the time that the stores would start to close permanently from May 2, with the stock clearance completed and final store closures to take place by May 15.
Earlier this week, Debenhams announced the final closing dates for 52 of its stores.
In total, 52 stores will shut down for good, leaving 45 to continue trading until May 15.
Debenhams stores closing on May 2:
- York Monks Cross
Debenhams stores closing on May 4:
Debenhams stores closing on May 8:
- Bury St Edmunds
- Hemel Hempstead
- Leeds City Centre
- Westwood Cross