Debenhams Bristol: ‘Preferred bidder’ chosen for former department store as sale moves a step closer

A ‘preferred bidder’ has been selected for the sale of the former Debenhams branch in Bristol - with a further announcement expected next month, BristolWorld can reveal

The six-storey department shop in The Horsefair overlooking St James Barton roundabout closed in May, ending nearly 50 years in the city for the chain.

It was one of 49 Debenhams stores across the UK to close after the long-running retailer chain went into administration.

And despite the brand being bought by Boohoo, the physical shops, including Bristol’s, were left to close.

The closure of Bristol’s vast store had raised fears for the future of the city centre, especially following the announcement M&S was to close its nearby store in February.

Today (October 29), however, the man marketing the property said a deal was moving closer after the number of interested parties had been whittled down to one.

Nick Allan, from agents Cushman and Wakefield, could not reveal the proposed future use of the site from the potential purchaser.

But he said that it would represent a ‘great opportunity to reposition the property for the city’.

He said: “We had, not surprisingly for what is a strategic gateway building within central Bristol, there was significant interest in the property for a wide range of reasons including the potential for alternative uses.

“We had interested parties looking at residential through to creative use and offices for the building - some being subject to planning.

“We had a number of formal proposals and we have selected a preferred bidder, and should have further news during November.”

For confidentiality reasons, Mr Allan said he could not reveal who the party was or what they wished to do with the property at this time.

But he said: “This is great news for Bristol - it demonstrates the depth of appetite for great real estate opportunities within the city.”

Debenhams moved into the store in The Horsefair in 1972, taking over from Jones and Co which were there from opening in 1957.

But Debenhams collapsed into administration last year, with concern raised about the future of the building, and city centre.

Following the announced closure of M&S, Mayor Marvin Rees said the national economy faced ‘significant challenges’ with the shutting of department stores.

He put it down to a shift in shopping habits and the pandemic.

He added that the city council was working to support high streets and economic hubs that ‘hold communities together’ with grants planned to reuse vacant units.