B&Q has purchased the freehold of its Isle of Wight warehouse store, bringing an end to over 2 decades of leasing the land from West Sussex County Council.
The DIY giant opened its current 85,000sqft store off Dodnor Lane in 2003 after relocating from its smaller town centre ‘supercentre’ site off Furrlongs.
That original unit is now home to Matalan, which has been trading there under a 35-year lease due to expire in February next year.
Until now, West Sussex County Council has owned the land next to the Isle of Wight. But following negotiations, Kingfisher Group has purchased the freehold in an off-market sale.
The news likely means there is a positive future for B&Q on the Isle of Wight, with no signs of the retail giant going anywhere anytime soon.
Goodness knows how that land became the property of West Sussex Council.
But, who are Matalan leasing their land from? Is it the Kingfisher group, or some council somewhere?
probably the Russians, Chinese, or some foreign finance company…
there’s not much in the UK these days that is owned by the British
The UK doesn’t own much thesedays
we are being taken over.
“Until now, West Sussex County Council has owned the land next to the Isle of Wight.” ………….. College?
No doubt back handers were involved with the way all these councils & councillors work!!