B&Q’s parent company, Kingfisher, and high-street stalwart Marks & Spencer (M&S) have emerged as frontrunners in the race to acquire dozens of former Homebase stores. This follows the DIY retailer’s collapse into administration, with 74 locations now on the market.
The potential acquisition by Kingfisher and M&S could involve between 20 and 25 stores, with both companies positioning themselves to repurpose the sites for their respective retail strategies. Other interested parties reportedly include Home Bargains, indicating a competitive bidding process ahead of Friday’s deadline.
Homebase’s Tumultuous Journey
This development follows the sale of Homebase’s brand and up to 75 stores earlier this month to The Range, owned by CDS Holdings. The transaction ended a challenging six-year period under the ownership of Hilco, a retail investment firm, which had previously stepped in to rescue brands like HMV. Before Hilco, Homebase was owned by Australian conglomerate Wesfarmers, whose 2018 restructuring efforts resulted in store closures and renegotiated rents.
Now, a diverse portfolio of Homebase sites ranging from 15,455 to 1.19 million square feet is up for grabs, presenting significant opportunities for retailers looking to expand their presence.
Locations Under the Spotlight
The stores available span the length and breadth of the UK and Ireland, including prominent retail parks and high-traffic urban areas. Key locations on the market include:
- Abingdon, Oxfordshire
- Newcastle under Lyme, Staffordshire
- Branksome, Poole
- Waltham Cross, Hertfordshire
- Truro, Cornwall
(Full list detailed in here.)
The Future of Retail in These Spaces
For Kingfisher, the acquisition represents an opportunity to expand B&Q’s reach and align with its commitment to serving the UK’s DIY and home improvement market. Meanwhile, M&S could utilise these large retail spaces to support its evolving strategy, which increasingly integrates food halls and homeware offerings into new locations.
The Homebase collapse and subsequent sales mark a pivotal moment in the reshaping of the UK’s retail landscape, with bidders eyeing these stores as key assets for future growth.
As the bidding process concludes, industry watchers are eager to see how these prominent retail brands repurpose the former Homebase sites, potentially revitalising local high streets and retail parks across the country.
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