The former Homebase store in Brecon has secured a new occupier.
Acting on behalf of landlord, Atlantic Leaf Properties, Cardiff-based property advisory firm Fletcher Morgan has let the property to B&M Retail.
The property comprises a 26,300 sq ft store, with a garden centre and 128 parking spaces.
Richard Ryan of Fletcher Morgan said: “The location of the property with prominent frontage to the intersection of the A40 and A470 presented a unique opportunity for a retailer to secure a large store footprint within the historic market town of Brecon.”
B&M were represented by Burns Property Consultants. There was strong occupier interest in the property and it is understood that B&M has entered into a 15-year lease with Atlantic Leaf.
It has now taken occupancy of the building and commenced fitting out work, with a view to the store opening by year end.
Homebase, under the terms of a company voluntary arrangement (CVA) struck with creditors in August 2018, secured a 65% reduction in rent on its Brecon store.
The CVA also gave the landlord the option to end the lease arrangement with Homebase, which it enacted on September 1st.
As part of the CVA Homebase announced 40 stores closures across the UK.
