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Agents have received interest in Spalding department store

Agents have received some interest in a former town centre department store.

Beales closed the doors of its store in Market Place for the final time in March due to the pandemic and going into administration.

However, the people who are marketing the store say it has attracted some interest.

Beales in Spalding (43812093)
Beales in Spalding (43812093)

Whybrow chief executive Ewan Dodds said: “We have had a little bit of interest but it is at the early stages.

“We are very keen to try to find an occupier.”

Unfortunately the property had suffered some damage in recent weeks with the signs close to the Hole in the Wall entrance coming down.

There were reports that the fire service had also been involved.

The current owners of the store, Panther Security, which is selling the site and liasing with administrators KPMG, says that it will be undertaking emergency repairs to the building.

The store, which was built in 2004, is currently on the market for sale or to let.

The ground floor is 13,475 sq ft and also boasts a first floor open plan sale area.

It also has two entrances along with escalators and a small service yard and loading area.

Agent Mr Dodds said that the property is available as a whole or in parts.

He said: “It is quite a flexible property that could be broken up potentially into smaller properties.

A total of 15 members of staff were made redundant earlier this year when the store finally closed its doors in March.

Beales, which had been founded 140 years ago, was reported to be in trouble in January when the BBC reported that it was in talks with two potential investors.

Later that month the Spalding store was one of 23 sites listed for closure on the Beales site.

Will Wright and Steve Absolom from KPMG Restructuring were appointed joint administrators to Beale Limited and J E Beale Plc (“Beales”) on January 13.

The store closed its doors for the final time in March – two weeks ahead of the scheduled date due to the coronavirus outbreak.

The joint administrators for the chain, Mr Wright and Mr Absolom from KPMG, confirmed at the time that “the impact of COVID-19 on the retail environment has meant that trading can no longer be supported”.

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