Got a spare £3m? Property consultants finally instructed to find a buyer for Debenhams site in Bedford

After years of uncertainty, commercial property consultancy Kirkby Diamond has now been instructed to find a buyer for the former Debenhams department store in Bedford.

Closing in May 2021, the prime town centre site has been a source of much sadness for shoppers and frustration for councillors who last week said it needed to be developed urgently

And with offers in the region of £3 million being invited, it’s thought the best way to move forward with the 75,377 sq ft building is to have multiple shops downstairs and apartments upstairs.

Nathan George, associate and head of agency at Kirkby Diamond’s Bedford office, said: “Although the demise of Debenhams was a sad moment for Bedford town centre it means that a long-awaited opportunity has arisen to acquire a historical piece of the town centre.

“The former Debenhams department store provides accommodation over six levels and we are of the opinion that the property would best suit redevelopment of the upper floors to residential and splitting of the ground floor into multiple retail or leisure units, subject to planning.”

Obviously the inside of the property – on the corner of the High Street and Silver Street – is currently fitted out as a department store and there is a large basement and additional storage to the 5th floor. Access for loading is provided to the rear via St Paul’s Square.

Nathan added: “Bedford Borough Council has continued its proactive approach to economic development across the borough and will be supportive in promoting the site as a viable development opportunity. The site has been included in the upcoming Local Plan which considers how a scheme could potentially create smaller commercial units for retail or food/beverage occupiers, other leisure uses and residential opportunities on the upper floors.”

The Local Plan also includes Bedford Corn Exchange, the Harpur Suite and Bedford Central Library which all form part of the same block as the former Debenhams site.

For more information, contact Nathan George on [email protected] or call 07741 261890.

Kirkby Diamond has been instructed to market the property by Kroll Advisory Ltd acting as LPA receivers