Liberty mulling sale and leaseback of flagship store

City A.M. Reporter
LIBERTY is considering a sale and leaseback of its flagship store in the West End as UK commercial property prices continue to rebound.

The company – which is 68 per cent owned by MWB Group – said it has been examining and assessing a range of options and initiatives over the past six month.

British commercial property values rose one per cent in January, the sixth-consecutive monthly gain in capital values in a strong rebound following a 45 per cent plunge in values between June 2007 and August 2009.

The asking price could be as high as £40m.

Chairman Richard Balfour-Lynn said: “A number of parties have expressed interest in buying the freehold, which may lead to an acceptable offer being made.” Sales at the store rose by a fifth last year.