Retail specialist Chartwell Land has acquired the Bhs department store at 21/23 Tavern Street, Ipswich, from the Prudential for £4.5m. It plans to convert the property into a new unit for Superdrug.
Bhs occupied the 2,276 sq m (24,500 sq ft) building on a long lease. The retailer is relocating to a larger 3,252 sq m (45,000 sq ft) store in Ipswich’s Buttermarket Centre, which opens in March. Chartwell Land is re-letting the Tavern Street property to Superdrug at £100 zone A. The store will be trading by the summer.
Ayles & Heath advised Chartwell Land. Lambert Smith Hampton acted on behalf of Bhs in the acquistion of its new store and on the Tavern Street sale.
EGi News 29/01/97
