M&S puts 17 sites up for sale worth £70m

Marks & Spencer has brought 17 prominent sites across the UK to market, via Coliers, for a total of £70m.

The stores are located at: Andover, Ayr, Barnsley, Barnstaple, Barrow-in-Furness, Blackburn, Blackpool, Carmarthen, Dundee, Kettering, Kilmarnock, Kirkcaldy, Mansfield, Neath, Scarborough, Wakefield and Workington.

The details of the portfolio are as follows:

• Total current income of £8,431,391 per annum.
• M&S sustained strong performance through the 2021 Christmas period with 18.6% growth in sales.
• The properties all have a substantial foodstore offering with a significant portion of space dedicated to M&S Foodhall.
• 5.2 years unbroken to expiry (31st March 2027).
• Majority freehold interests.
• Total Gross Internal Area of 908,717 sq ft (84,422.7 sq m).
• Benefits from fixed annual rental uplifts of 1.95% on 29th September each year.