Matalan eyes sale-and-leaseback of Galaxy HQ
The discount fashion and homeware retailer is seeking to raise £29m from the sale of its headquarters at Knowsley Industrial Park, among other measures to shore up its finances amid the pandemic.
Matalan’s 132,000 sq ft head office at the Galaxy warehouse within the industrial estate was designed by Fletcher Rae Architects.
The retailer moved into the three-storey building in 2018 after purchasing it through a pension fund from logistics developer Tritax Big Box Reit.
The building is now on the market for £28.5m, and Matalan is seeking a sale-and-leaseback deal so it can continue to occupy the premises, according to the Sunday Times. Matalan has been contacted for comment.
Matalan has more than 230 stores across the UK and was expecting to open 175 openings by today, when non-essential retail stores across the country were permitted to reopen under Government guidelines.
Matalan was based at premises in Skelmersdale before it relocated to Knowsley. The complex is located between Kirkby and Knowsley off the A580, with other tenants including distribution company Hermes Parcels and car manufacturer Toyota.
B8 Real Estate is the agent for Knowsley Industrial Park.
