Matalan issue statement on future of Bamber Bridge store after building goes up for sale for £6million

Matalan has issued a statement on the future of its Bamber Bridge store after the building was put up for sale with a price tag of more than £6million.

By Matthew Calderbank
Wednesday, 23rd February 2022, 11:48 am
Updated Wednesday, 23rd February 2022, 2:45 pm

The listing on Zoopla led to speculation about its future, with shoppers fearing the retailer might have plans to vacate the store after 36 years of trading in Cuerden Way.

But Matalan has sought to reassure customers, saying the store - the first branch to open in the UK in 1985 - has no plans to close.

"We can confirm that our Matalan store won't be affected by this," said a spokesman.

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Matalan's Bamber Bridge store has been put up for sale with a price tag of more than £6million. Pic: Google

The landlord is seeking to sell the building, along with the 4.39 acres the store sits on, but the site will remain let to Matalan until its lease expires on May 31, 2032.

In fact, the building owner is seeking to attract prospective buyers by illustrating the recent success enjoyed by Matalan, who currently pay rent of £575,621 per year.

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This will increase to £651,262 in June 2022 before rising again in 2027, when Matalan will pay £736,843 per year for the Bamber Bridge store.

"We understand Matalan trade well from the store, which has a strong and loyal customer base," say estate agents Avison Young.

"The tenant has recently completed a refurbishment of the store which we believe shows their commitment to the property.

"Matalan have recently announced positive trading results stating full price sales were up 25% in the second quarter of 2021, resulting in a positive operating profit of £35 million for the quarter."

The agents add that Matalan had an impressive annual turnover of £744 million in the financial year to February 2021, even as the retail sector suffered huge disruption due to the coronavirus lockdowns.

This equated to a pre-tax profit of £127.5million and a company net worth of £149.2million.

You can view the listing on Zoopla here.

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