House of Fraser, advised by Churston Heard, has agreed terms to assign the long lease on its Schofields department store in Headrow, Leeds, to a single retailer not represented in Leeds, says property director Sandy Munn.
Schofields, in the Schofields Centre, is to close on 27 July. It has a sales area of about 4,180sq m (45,000sq ft).
He declined to divulge details, but said they had not been actively marketing the lease, and a satisfactory offer had been received. He added that the Schofields store layout – on three levels linked by excalators – “had not really worked for us.”
House of Fraser is investing £6m in Rackhams on Briggate, its other Leeds store. The Schofields Centre is owned by Hermes Property Asset Management.
House of Fraser disposes of Leeds flagship store 15/5/96 EGi News
EGi News 16/05/96
