Liberty mulls freehold sale to buoy business

Last month Liberty dedicated its window display to the late Alexander McQueen who had his jewellery stocked at the department store. (Photo by BEN STA

Sale of freehold lease could raise £40m

London department store Liberty is considering the sale of its freehold lease after a review of the business.

Liberty, which works closely with the jewellery industry to create its popular Jewellery Room, has appointed property agency Knight Frank to gage interest in the freehold that is thought to be worth up to £40m.

The department store has been considering a range of options to drive growth at the business said that it will continue to operate as normal after leasing back the store.

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Liberty has said that a number of investors are interested in buying the freehold lease.

Liberty revamped its jewellery offer and opening the Jewellery Room in February 2009. The department store also has its own range of jewellery under its Liberty of London brand, which launched in 2008.

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