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Homebase bags £57m from sale of Battersea store

Published: 25 November 2014
Homebase owner Home Retail Group is selling its freehold store in Battersea, London for £57m and is poised to kick off its large-scale programme of store closures.
Homebase bags £57m from sale of Battersea store
The sale of the Battersea outlet, which is expected to complete in 12 months' time, is to a residential property developer and Homebase will vacate the property shortly after the completion date.

£30m from the sale will be received in the current financial year, ending February 28 2015, with the remaining £27m going into the 2016 accounts.

Homebase will also be closing some 25 stores in the next three months as part of its plan to ditch a quarter of its estate - around 80 stores - over the next three years.

Comments

25 November 2014 00:05:00
By SUGAR
WELL WELL THIS WHOLE THING IS A JOKE.MOST OF THE TEAM LEADERS NEVER EARNED THEIR SPOT AND SAME GOSE FOR SOME OF THE MANAGERS. YES IT IS WHO YOU KNOW AND NOT WHAT YOU KNOW. WHAT IS TOO HAPPEN TO THE BATTERSEA STAFF? THEY ARE FUNNY HELPFUL KNOWDLGE ABLE...THE GIRLS FROM BATTERSEA LIGHTING DEPARTMENT ALWAYS SMILING AND HELPFUL, THERE WAS A YOUNG BLACK CASHEIR IN THE MORNINGS HAD A GREAT LAUGH HAVE NOT SEEN HER IN OVER A YEAR VERY HELPFUL TOO.....WHEREEVER SHE HAS GONE TOO I WISH HER ALL THE BEST...NOW I WATCHED FROM A FAR NOW SHE WAS DIFFENTLY MANAGERMENT MATERAAIL.....

TAKE IT FROM ME SELLING BATTERSEA IS WRONG VERY WRONG....
25 November 2014 00:04:00
By nomann
shutting down the store is a joke ,you say good luck to staff finding jobs, bigger joke when some of team leaders as well as manager's got themselves jobs in HEAD OFFICE OR ANOTHER STORE...IT IS NOT WHAT YOU KNOW BUT WHO YOU KNOW!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
25 November 2014 00:03:00
By mad
Madness, I have shopped here and it is fantastic but who can turn down 57m
25 November 2014 00:02:00
By The Guv
Once one of the best Texas Homecare stores in the country - only Milton Keynes,Charlton and occassionally Orpinton and Brighton (I am not joking) took more money or made more profit. Our team kept this store from closing when Homebase (then part of Sainsburys) took over in 1995. Infact by convincing the then Board of JS that we could diversify against the Wandsworth store only a few hundred yards up the road we even got a refit. Further improvements were made under Rob Templemans stewardship,but now the chaotic management of Home Retail has turned Homebase into a retailer devoid of ideas churning out the same misleading sale offers and taking no money unless on a 15% off weekend.The public now realise that the prices are all over inflated to get knocked back down again.
With Battersea the cost of land was always going to be a factor as with Kensington, and other stores in prime locations should be aware of this too.
25 November 2014 00:01:00
By Base worker
The store at Battersea, is one of the store of the future, that a few months ago, was put up to the city as the way the company wanted its stores look in the future, to me that spells out the future of Homebase "closing down"good luck to the staff with finding jobs with a future

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