Debenhams Sheffield: New owner issues statement on future of city centre department store
The new owner of Debenhams in Sheffield city centre has issued a statement after snapping up the former department store.
NewRiver, the owner of The Moor, said it was “exploring options for the space” which is a key building within its city centre estate.
Two years ago Sheffield City Council gave ‘pre-application approval’ to it being replaced by two blocks of flats.
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A spokesperson for NewRiver said: “NewRiver has acquired the former Debenhams building in Sheffield, forming part of the wider masterplan and improvement plans for The Moor, Sheffield. We are exploring options for the space with no further update to share at this time.”
NewRiver had previously attempted to seize control of the Debenhams building. In November, it served a Section 146 notice on the owner to try to force the surrender of the lease on ‘disrepair’ grounds.
Debenhams closed in 2021 after the retail chain went bust. It was bought by a company called Lewisham MHA 5 Ltd for £1.5m the same year. Lewisham MHA 5 Ltd went into liquidation in July last year.
Before then it tried to find a tenant, tried to sell it and proposed a ‘People’s Store’ selling second hand goods.
In September, it was put up for auction with a guide price of £850,000. But it was listed as ‘unsold’ following the event.
Receivers at Moorfield Advisory attempted to auction it off in December for just £1 but it was snapped up NewRiver ahead of the auction.
In 2021, NewRiver acquired The Moor for £41m from Aberdeen Standard Investments.
The deal was a joint venture with BRAVO Strategies III LLC, in which NewRiver holds a 10 per cent stake.
The Moor includes a 670-space car park, the former Wickes on Moore Street and the former Staples Shopping Centre off Eyre Street.
At the time NewRiver boss Allan Lockhart said: “We really like the opportunity to regenerate parts of the estate for residential, which will benefit the retailers.”
NewRiver has it on a 250-year lease from freeholder Sheffield City Council.