Debenhams Sheffield: Owner set to exchange contracts on department store 'in two weeks'

The five-storey building on The Moor is set to be snapped up by an “overseas store group”, according to agent Anthony Lorenz, who is handling the sale for London firm MHA. Exchanging contracts would create a binding legal commitment to buy.

Mr Lorenz said: “We have got a purchaser who wants the building as a store and we are pushing on that. They are an overseas store group and they want to reopen it as a shop with loads of concessions inside.”

If the deal fell through, another firm was keen to run the building, also as a department store, he added. It raises the prospect the shop, which opened as Pauldens in 1965, could be brought back into use this year.

It has been empty since Debenhams closed on May 15 2021. MHA, tried to find a tenant before putting it up for sale in spring 2022.

In July, Mr Lorenz said they had a potential buyer who wanted to run it as a shop with a wine bar and cafe. And the sale could complete by the end of August.

Sheffield City Council has given a provisional green light to a plan to replace the building with 22 and 34 storey-towers. Uses could include shops, leisure, flats, offices or a hotel.

This ‘pre-app advice’ is seen as incredibly valuable since it allows a move away from its use as a department store.

Historic chain Debenhams closed with the loss of 12,000 jobs. Online retailer Boohoo bought the brand for £55m.