NEWS

Six former Toys R Us properties sold in a deal worth £30.5m

Published on: 23rd July 2018

An unnamed retailer has bought three of the properties, while Cardiff council, Plymouth council and a property developer have purchased the other remaining sites.

As reported by City AM, the deals come after the UK arm of Toys R Us went into administration in February, with its US owner having filed for bankruptcy last September amid plummeting sales.

A spokesperson for Solutus, the loan servicing and advisory firm, commented: “Although there is much talk of weakness in the retail market these transactions show that there is still a lot of interest in well-located larger sites that provide opportunities for retailers to expand or for alternate use.”

A spokesperson at FI Real Estate Management commented: “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 a number of the units to let to strong retail brands.”

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