House of Fraser back on market 'at lower price'

'KNOCK-DOWN ₤3M PRICE AFTER DEAL FALLS THROUGH'

- WILLIAM TELFORD

PLYMOUTH’S massive House of Fraser building is on sale for a knock-down £3m after a deal to buy it appears to have fallen through. In August 2022 it was reported that a deal to purchase the six-storey block, which also has a basement, for more than £4m was “imminent”.

But the pile is back on the market and could be “reconfigured” with new floors added on top. Property consultancy Allsop said it has been instructed to sell the department store building’s lease for “in the region” of £3m.

The 183,689sa ft building originally went on the market in May 2022, with offers sought “in excess of £4m”. It soon attracted interest and three months later commercial agents told The Herald that “a deal has been agreed”, but the contract appears to never have been signed.

The building and the four small retail units next to it on New George Street, totalling 14,398sq ft, are now on sale again. Three of the units are empty and one is occupied by Menkind.