Sheffield Debenhams Store Up for Auction – Again! UPDATE: "Sold Prior"

[SheffieldForum]

The former Debenhams department store on The Moor is set to go under the hammer for the third time, with a reserve price of just £1. The auction will take place on December 11, marking another chapter in the troubled story of the once-thriving city centre landmark.

 

A Knock-Down Price for a Major Site

The building’s reserve price – the minimum the seller is willing to accept – reflects ongoing challenges in finding a buyer:

 

• 2022: Listed with a guide price of £5 million but withdrawn from sale.
• September 2024: Re-listed for £850,000 but failed to attract a buyer.

 

Control of the building lies with Moorfields Advisory, acting as receivers after the previous owner, Lewisham MHA 5 Ltd, went into liquidation in July 2023. The property’s diminished value underscores the struggle to revitalise this prime city centre site.

 

Background: A Building in Limbo

After Debenhams closed in 2021, following the chain’s collapse, the building was sold to Lewisham MHA 5 Ltd for £1.5 million. Efforts to breathe new life into the site included attempts to lease it, sell it, or repurpose it as a second-hand goods hub, dubbed the "People's Store." None gained traction, leaving the building unoccupied.

 

Further complications arose last month when NewRiver, owners of The Moor, issued a Section 146 notice to seize the lease on disrepair grounds. The £1 auction may now offer NewRiver a simpler route to acquire the building.

 

What’s Next for The Moor?

With the reserve set so low, the auction could at last attract interest. However, questions remain about the cost of restoring or repurposing the building and how it fits into the broader regeneration of The Moor.

 

Could this finally signal a new beginning for a key city centre site? All eyes will be on the auction block on December 11.

[AndrewC]

I get the feeling this has all been some kind of diplomatic way of getting the property out of the hands of the previous owners and in to the hands of NewRiver.

[Guest]

So they're Auctioning it for a paltry quid? 

 

I can stretch to a fiver  

 

[geared]

Bidding starts at a quid, where it ends up is anyone's guess.   You'd assume less than £850,000.  Considering there's been ample opportunity to acquire it at that price already.

 

Sucks to be this Lewisham MHA outfit, £1.5 right down the toilet.

[ThePilot]

40ish years Leasehold.

You can get the former RBS for 600k Freehold.

[bassett one]

they will need to extend the leasehold that wont be cheap, its so sad and the one at nottingham is bigger and thats in a great position as well, but times change

[pattricia]

If the new owner turns it into a shop,it’s had it, but if they turn it into private apartments,it will do well. Especially with the University students,!

[Stannington Lad]

I wonder why it wasn't redeveloped with the rest of The Moor? 

[bassett one]

29 minutes ago, pattricia said:

If the new owner turns it into a shop,it’s had it, but if they turn it into private apartments,it will do well. Especially with the University students,!

i think your right to a degree, flats and retail on the ground and basement,even multiple

[AndrewC]

13 minutes ago, Stannington Lad said:

I wonder why it wasn't redeveloped with the rest of The Moor? 

 

Because it's never been owned by the current owners of the rest of The Moor or their predecessors.