Sports Direct to sell Shirebrook HQ

Sports Direct is “in advanced negotiations” to sell its Shirebrook headquarters for over £120m. After the sale Sports Direct plans to lease the property.

A statement from the retailer says: “Sports Direct announces that it is, through its wholly owned subsidiary Retail Limited, in advanced negotiations to dispose of the freehold property of Units A, B, C, D and F Brook Park East, Shirebrook, NG20 8RY (the “Property”) to KWAA Logix Sportivo Limited for a cash consideration of £120,050,000 (the “Transaction”).

“Sports Direct will on completion, take a 15 year lease of the Property and intends to continue to operate the Property as a distribution centre, offices and retail. The Company intends to use the proceeds of sale towards the working capital of the Company and its group operations.”