Sports Direct buys former M&S Liverpool building
Parent company Frasers Group is continuing its strategy of owning the properties that it occupies by acquiring the long leasehold of Compton House in Church Street, vacated last year by Marks & Spencer.
Frasers did the same with its move to put upmarket brand Flannels into Parker Street, off Church Street, and in Southport where a former Waitrose store was acquired to house several Frasers brands.
James France, Frasers Group head of acquisitions, commented: “We are pleased to confirm that we have acquired Compton House located on Liverpool’s renowned Church Street. We are big believers in physical retail and this acquisition marks an exciting time for the group as we continue to expand our store portfolio across the UK and Europe.
“As the UK’s leading destination for sportswear, we are looking forward to bringing Liverpool customers a next-generation sports retail experience with the opening of a 70,000 sq ft Sports Direct flagship store featuring the world’s biggest sports brands. Subject to approval, Everlast Gyms will also open a 23,000 sq ft hybrid gym in the space.”
The extensive strip-out of the M&S and fit-out of the new Sports Direct is expected to take at least 18 months.
A question mark now hangs over the existing Sports Direct in Liverpool One. M&S moved to the former Debenhams, also in Liverpool One, last year.
The bold move by Sports Direct was welcomed by retail property spokespeople in Liverpool. Jennina O’Neill is chair of Liverpool BID’s retail and leisure board, and centre manager at Metquarter.
O’Neill said: “We knew that Compton House wouldn’t stay empty for long and Sports Direct will bring a great deal of footfall to Church Street and will add to that mixed retail experience in the heart of the city centre.
“Compton House is a flagship building in Liverpool City Centre and any plans for it must match the ambition of the stunning build, so we are delighted to see that Frasers Group, as they announce the lease, have talked about their plans for a “next generation” experience. Retail theatre is a major part of the modern shopping experience and we know that Sports Direct delivers that around the globe, so we’re excited to see what they bring for shoppers on Church Street.
“We’re also looking forward to seeing how their plans will impact the streets alongside Compton House and onto Williamson Square as the right development can be transformative for the city centre”.
In December, Frasers reported group revenue of £2.8bn and a pre-tax profit of £310m. The group’s brands include Slazenger, Evans Cycles, Jack Wills and House of Fraser.
CBRE advises Frasers Group. Grosvenor declined to comment on Liverpool One. M&S has been approached.
Good to see this massive space being let but would have liked the old hotel space to return to that use, anyway if this refurb is on par with Flannels then we will be impressed.
Wonder what will happen to the long-vacant newbuild fronting Williamson Square, and the tired-looking old Jobcentre next to it, can’t Frasers but them too.
As regards the Sports Direct unit at Liverpool One, can we have a Uniqlo in there?
By Anonymous
Jenninaa O’Neil, should send a “HURRAH”
to the St, Helens, Sefton and Wirral Councils for their demolition of their town centre shopping areas.
Well done to the foresight of business who are investing in our excellent City of Liverpool. Now voted in the international listing of places to visit.
This will revitalise the entire circumference from Bold Street to Castle Street and all business including shops, restaurants public houses etc.
Well done to business investing our unique Liverpool Home. Once again leading internationally, after generations of chimney sweeps, etc politicians incompetent meddling.
By Anonymous
Please can it be one of their department stores! This would make Church St move towards what it used to be with its department stores of old! It could be great……….
By Teresa Cunningham
Shame M&S had relocated. Not sure Sports Direct would be fitting with the period features of Compton House.
Perhaps a Selfridge’s, although already have a quantity within that market. Or a Wholefoods.
Or a mixture of local independents would be a better option.
By Anonymous