CBRE appointed to sell 239 Carpetright leaseholds
Administrators at PwC have instructed CBRE to sell the 239 Carpetright stores that were left vacant by company’s administration earlier this week.
The agent is seeking offers for the leaseholds on individual sites or portfolios of stores.
Together the vacant stores comprise some 2.5m sq ft of floorspace and represent more than £38m of contracted rent.
Administrators at PwC have instructed CBRE to sell the 239 Carpetright stores that were left vacant by company’s administration earlier this week.
The agent is seeking offers for the leaseholds on individual sites or portfolios of stores.
Together the vacant stores comprise some 2.5m sq ft of floorspace and represent more than £38m of contracted rent.
The largest asset in the portfolio is the retailer’s 491,000 sq ft Nestware House HQ and warehouse in Purfleet, Essex. Carpetright was paying just over £4.7m in annual rent on the building, on a lease expiring in summer 2032. According to EG Radius data, the property is owned by Blackstone, which paid Abrdn £143m for the freehold asset in late 2021.
In addition to the retail stores, 14 warehouses are also available, totalling some 62,543 sq ft.
Carpetright was placed into administration earlier this week after “falling victim to challenges facing many retailers, especially those selling big-ticket items”.
Rival retailer Tapi, run by Martin Harris, son of Carpetright founder Lord Harris of Peckham, rescued 54 stores and two distribution units from the total portfolio in a pre-pack deal on Tuesday.
Photo by Dimitris Legakis/Athena Pictures/Shutterstock (14595549g)
