British Land to sell remaining Debenhams stores

British Land is preparing to sell the four remaining freestanding Debenhams stores in its portfolio.

The landlord has appointed CBRE to market the department stores in Bournemouth, Cardiff, Chelmsford and Chester.

A fifth freestanding store in Clapham Junction, south west London, was also recently sold by British Land for around £48m.

These follow the sale of its flagship store on Oxford Street, W1, in 2016 for £400m to a private investor.

British Land bought 23 freeholds and long leaseholds – totalling 3.28m sq ft – from the retailer in 2005, in a £495m sale-and-leaseback