Birkenhead House of Fraser sold
16 December 2014 10:46
Comments (5)
A 70,000 sq ft department store occupied by House of Fraser has been sold to overseas investor Autumn Properties for £5m, representing a net initial yield of 11%.
The two-storey 1930s property in Grange Road in the town centre was sold by Carstone. House of Fraser is the sole occupier and has an unexpired lease of 12 years at an annual rent of around £580,000.
Paul Nichols & Co acted on behalf of the vendor; Global Investor represented Autumn Properties.
What’s it going to be? A bookie’s, charity shop or Greggs? Or maybe a Poundland / Poundshop / Poundwotsit.
By Pritti Delawi
HoF’s got an UEL of 12 years, so no plans with it apart from business as usual for HoF.
By Dave Fraser
is the store open for christmas shopping?
By boardman
Thank goodness it’s been sold, a disgrace to call it a department store. Smelly ladies’ toilets, no working hand driers two toilets unusable, what a comedown since the days of Allinsons and Beatties. Good riddance House of Fraser, we deserve better in Birkenhead.
By Gill L.
House of Fraser’s not going to close is it?
By Prestatyn