More than 100 offers have been tabled for the final six freeholds of collapsed furniture retailer Courts this week.
The stores in Taunton, Eastbourne, Clacton, Ashford, Penzance and St Austell, comprise more than 72,000 sq ft and are expected to fetch more than £5m.
Bids have been placed by local owner-occupiers, investors and developers.
Leslie Furness, which is selling the properties on behalf administrator KPMG, refused to comment on the sale process.
Sources close to the deal confirmed that more than 300 tender packs for the properties were sent out and that inquiries about the stores were very strong.
“Yields are going to go out the window on these properties,” said an insider. “They are big chunks of freehold properties and local developers and owners are really fighting it out for them.”
Courts went into administration in November last year.
Private equity firm SB Capital, which owns Furnitureland, took over the 88 stores in December last year but only kept 14 of them.
The rest of the former Courts shops have been returned to their landlords.
References: EGi News 08/04/05
