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Debenhams trophy goes on sale

Debenhams-edinburghDebenhams in Edinburgh is being sold as part of a £102m portfolio.

The 100,000 sq ft department store on Princes Street and a Sainsbury’s in Guildford, Surrey, form the bulk of the Alexis portfolio.

The assets – four further supermarkets and a The Range warehouse – are based in towns with a wealthy demographic including Lichfield, Staffordshire, Woodley in Berkshire, Gloucester and Hereford.

They are an average size of around 30,000 sq ft and have an average unexpired lease term of around 18 years and an average rent of around £19 per sq ft.

The portfolio is being marketed by CBRE on behalf of Fairholme Estates, which has owned the assets since 2005. The sale price reflects a 5.08% yield.

Agents said it was likely to attract interest from family offices, overseas investors and German funds.

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