Former Toys ‘R’ Us properties to fetch over £182m as buyers swoop for estate

The estate of collapsed retailer Toys ‘R’ Us is continuing to draw interest from prospective buyers and occupiers, according FI Real Estate Management.

The asset and property management firm said £40m worth is already under offer and an additional £111.5m of sales are in the pipeline.

Six former Toys ‘R’ Us sites in Liverpool, York, Plymouth, Shrewsbury, Cardiff and Woking were sold last month for £30.5m.

Now, 25 assets remain and nine are earmarked for redevelopment, while 13 are set for retail lettings and three for sale.

An FI Real Estate Management spokesperson said: “We have had strong interest in the portfolio since we took over its management, having implemented a successful business plan to help unlock its potential value.

“This has been demonstrated through the first phase of strategic sales to a range of local authorities and retailers.”

They continued: “We currently have a number of properties under offer, heads of terms issued for pre-lets, and planning applications being developed for the remaining assets.

“The market is still buoyant and we are wholly confident that we will achieve a healthy return for the residual assets.”

FI Real Estate Management was appointed in March to provide full asset and property management services on the 31 assets making up Toys ‘R’ Us’ freehold and long leasehold portfolio.

Property agencies Cushman & Wakefield and Morgan Williams are the portfolio’s acting sales agents.

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