Nottingham’s Debenhams store bought for £25.8m

Nottingham’s Debenhams store bought for £25.8m

The Debenhams store in Nottingham has been purchased by Altum Capital for £25.8m.

The prominent building is located on Old Market Square in the city centre between intu Victoria and intu Broadmarsh.

The store trades over four floors, with a total area of 196,604 sq ft. It is let to Debenhams Retail Plc until 2040, with a current rent of £1,479,983 per annum.

Jack McCarron, of Altum Capital, said: “We have acquired this attractive building, occupying a substantial corner site in the heart of the city centre.

“Nottingham is a vibrant shopping destination and is attracting significant investment over the next few years.

“This acquisition demonstrates our strategy of acquiring assets with long-term income, as well as benefiting from potential alternative use value. We are considering a number of other similar opportunities across the UK.”

GL Hearn advised Altum Capital. Colliers International represented the vendor.

 

Source Insider Media