The Range, a well-known retailer, is in the process of selling 10 of its stores, including one in Kent. This move is part of a strategic sale-and-leaseback deal, allowing The Range to retain control over its Ashford site on Fougeres Way, which was previously occupied by John Lewis At Home. The deal is structured to ensure The Range's continued presence on these sites for the long term, with a 15-year lease and no break clause. The portfolio of stores, spanning England, Wales, Northern Ireland, and the Republic of Ireland, is being managed by CBRE, a prominent commercial real estate firm. The total value of the portfolio is set at over £67 million, with all assets fully leased to CDS (Superstores International) Limited, trading as The Range. This arrangement provides investors with a secure, long-term income stream, as The Range offers a rare 15-year lease term with built-in growth potential through CPI-linked rent reviews. Suzie Lisle, senior director of UK retail at CBRE, highlights the strategic nature of this move, emphasizing The Range's commitment to recycling capital from its existing freehold portfolio to support future expansion. This approach is particularly appealing in the current retail landscape, where stability and long-term income are highly valued by investors. The sale-and-leaseback strategy not only ensures The Range's continued presence in these locations but also demonstrates its commitment to long-term sustainability and growth, making it an attractive investment opportunity in the retail sector.
