WHSmith is to exit its Swindon headquarters after 40 years, with plans to turn the 15-acre distribution centre and office into a residential development.
The global newsagent and FTSE 250 listed company said the 350,000 sq ft distribution depot and 150,000 sq ft office are not fit for modern requirements.
Last year, WHSmith sold part of its freehold to Keepmoat Homes after securing consent for 134 homes and a nursery on land previously used by its office and car park.
It has lodged outline plans with Swindon Borough Council for 228 homes on its remaining land at Greenbridge Industrial Estate.
The application follows meetings with the council in March and an EIA earlier this year. It proposes an indicative mix of 164 houses and 64 flats in blocks of three to five storeys and a central community park area.
The site is located one mile to the east of the town centre, close to Greenbridge Retail Park, with nearby employment and housing.
WHSmith is reviewing its options and aims to generate funds by selling the land, to relocate the current operations to more modern accommodation in Swindon. It estimates costs to remain operational would be in the order of £3-4m and are not commercially viable.
In annual results released earlier this month, the retailer reported a pre-tax loss of £280m for the year ended August 31. It said it was continuing restructuring of its stores and head offices, with around 420 leases up for renewal in the next three years, including 120 where it was negotiating with landlords.
WHSmith previously explored plans for a £25m sale and leaseback of the 23 acres at Greenbridge in 2008 and mooted ideas around a potential change of use after sounding out appetite from retailers with requirements in the region.
To send feedback, e-mail emma.rosser@egi.co.uk or tweet @EmmaARosser or @estatesgazette
