House of Fraser has confirmed that it is in discussions to sell one of the newly acquired Jenners department stores it bought last month.
The group said it was in discussions with regard to a potential transaction relating to the Jenners Princes Street freehold property in Edinburgh.
A private Irish investor is understood to be buying the 175,000 sq ft store for about £37m.
House of Fraser bought the four-strong Edinburgh-based department store chain for £46.1m. Prior to its takeover, the Princes Street store was the oldest independent department store in the world and has been trading since 1838.
At the time of the purchase, House of Fraser chief executive John Coleman said the Princes Street store would be a valuable addition to its existing store portfolio alongside its existing store at the other end of the street.
References: EGi News 04/04/05
