BHS’s store portfolio is to reduce further as its owner Arcadia looks to offload a chunk of the retailer’s out-of-town stores.
The department store chain has reportedly appointed property agent CBRE to dispose of nine stores.
Arcadia is hoping to sell off stores at Mallard Road Retail Park in Bournemouth; St James Retail Park in Knaresborough, North Yorkshire; Fosse Shopping Park in Leicester; St Marks Retail Park in Lincoln; Parc Trostre in Llanelli, south Wales; Octagan Retail Park in Stoke-on-Trent; Cardi_ Bay Retail Park in Grangetown, south Wales; Westwood Retail Park near Broadstairs in Thanet and Monks Cross Shopping Park in York. The out-of-town units range in size from 39,338 sq ft to 20,172 sq ft.
BHS’s property portfolio has been gradually reducing over the last few years. Earlier this month, Primark took over two stores. The value chain plans to move into BHS’s Bath and Canterbury stores early next year.
In 2010 Sir Philip Green sold off 10 leases to Primark. A BHS spokeswoman said: “We are always looking to reshape the [BHS] portfolio.”