Sports Direct swoops for intu sites, say reports

Shopping centre operator intu has sold two East Midlands properties as part of a £25m deal, with Sports Direct reportedly the buyer.

The company has exchanged contracts to sell its freehold and leasehold interests in York House, a 24,000 sq ft site next to the intu Victoria Centre in Nottingham as well as its long leasehold interest in 59-61 St Peter’s Street which is located on the periphery of intu Derby. Formerly occupied by BHS, the site consists of four levels comprising 53,000 sq ft.

Both sites, according to the Derby Telegraph, have been sold to Sports Direct.

David Fischel, intu chief executive, said: “These deals, all successfully sold at above book value, are further evidence of our commitment to dispose of non-core assets and recycle capital into our exciting development programme. The sites will continue to benefit from being in the vicinity of hugely popular intu shopping centres which welcome millions of shoppers every year.”