House of Fraser and British Land (BL) have agreed to buy Bentalls’ 12,075 sq m (130,000 sq ft) Bristol store for £15.6m.
BL Fraser, the property joint venture between the two firms, has bought the store, which has provided problems for Bentalls since it opened after a major refurbishment in 1998. Poor trading, blamed on competition from the Cribbs Causeway shopping centre forced the firm to make staff cuts last year.
The store will give House of Fraser a major operation in Bristol, after the closure of its Dingles store in the Clifton area of the city.
House of Fraser’s chief executive, John Coleman, commented: “Following the closure of Dingles, our store in the Clifton area of Bristol, in January of this year, we have been very keen to find an alternative location in this major retailing regional centre, which has traditionally been very successful for House of Fraser. This is both an early opportunity to return to the city and to operate from an excellent retail location.”
EGi News 27/09/00
