Former Department Store in Sheffield Sold Before Auction

A former department store situated in Sheffield city centre, which was scheduled to be sold at auction, has been acquired prior to the sale. The building, previously a Debenhams store on The Moor, had failed to sell in September when it was listed with an asking price of £850,000. For its most recent listing, it carried a reserve price of just £1; however, auctioneers confirmed that the property was sold to an unnamed buyer for an undisclosed sum ahead of the scheduled sale. Jonathan Wright, from auctioneers Allsop, had previously characterized the building as a “fantastic opportunity” yet a “complicated asset.” Mr. Wright further stated, “No one wants the building to remain empty in the city centre. It needs someone to breathe new life into it.” According to the auctioneers’ listing, 40 years remain on the lease for the site, which has a fixed ground rent of £12,500 per year. Speaking ahead of the auction, Mr. Wright noted that there had been “so many people interested” in the building, with “varying ideas.” He elaborated, “Some want to keep it as retail; some want to keep the ground floor as retail with mixed use upstairs; and there was a discussion about a hotel.” He also commented on the redevelopment costs: “It is a lot of space in a great spot in the city centre, but whoever buys it will need to have enough money to redevelop it as it is going to cost a substantial amount of money to get it back into a useable state.” Furthermore, he reiterated the property’s complexity: “It is a fantastic opportunity, but it is a complicated asset with various stakeholders, including lease and freeholders, and you would need to get their approval to redevelop it.” More than 90 Debenhams stores permanently closed in May 2021 after the company entered administration, leaving vacant buildings in Sheffield, Meadowhall, and Doncaster. In 2023, Doncaster Council approved plans to convert the former Debenhams in the Frenchgate Centre into a six-screen cinema. The Debenhams location at Meadowhall was taken over by Sports Direct in September 2024. Retailer Boohoo purchased the Debenhams name and website and now conducts its business exclusively online.