// Former House of Fraser store in Richmond to be converted into mixed-use retail, leisure and office development
// The 61,000sq ft has been acquired by Sheen Lane Developments through a £44.5m acquisition loan from Ask Partners and OakNorth
The vacant House of Fraser store in London’s Richmond is set to be transformed into a mixed-use retail, leisure and office development.
The 0.5-acre unit, which is located at 80 George Street in Richmond, Surrey, has been acquired by Sheen Lane Developments through a £44.5 million acquisition loan from Ask Partners and OakNorth.
The store is a freehold, 61,000sq ft premises and was previously owned by Arcadia – which also includes further adjacent retail space along Paved Court, making a total of 75,528sq ft.
READ MORE: Ministry of Sound to remix House of Fraser store into gym and offices
The site was originally purpose built as a Dickins and Jones department store in 1968, but was acquired and rebranded by House of Fraser in 2007, and was closed down on 20 September, 2020.
Acquired with vacant possession, the site holds a prominent high street position and has planning consent in place for extensive refurbishment.
Independent property advisory firm Clifton acted for Sheen Lane on the acquisition, and is retained to lead on the leasing and asset management of the site.
Sheen Lane Developments aims to deliver a landmark mixed-use commercial scheme and will apply to the Local Authority to change the consented use class to Class E, broadening the tenant mix of the scheme to include a health club and restaurants.
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