A former Wilko store has been acquired in a major retail deal in Bedford town centre, leading commercial property consultancy Kirkby Diamond has announced.
The sale of the 36,900 sq ft property at High Street, overlooking the town square, is a huge boost for the town centre and follows the recent acquisition by Bedford Borough Council of the vacant Debenhams building.
The two upper floors of the three-storey Wilko building, vacant since the collapse of the budget homeware chain in 2023, are expected to be redeveloped by the new owners, who have not been named. There is early interest from a furniture operator in leasing the ground floor.
Nathan George, associate and head of agency for Kirkby Diamond in Bedford, said: ““While the closure of the Wilko store was undoubtedly a blow, the potential transformation of the building in a fantastic high street location by the new owners is very exciting.
“We really enjoyed dealing with this instruction and are very pleased to see another landmark building sold for redevelopment. It follows the sale of the former Debenhams building, which we completed earlier this year, giving the town centre retail sector a double boost moving into the new year.”
Kirkby Diamond acted on behalf of the unnamed sellers. Nathan added: “Before long we hope to have a new tenant trading from the ground floor which will be another positive lift for the town.”
The former Wilko store has an extensive presence on High Street, located opposite the traditional town square and marketplace, close to the River Great Ouse. It is a substantial property arranged over ground, first and second floors. The site offers excellent potential for existing use, leisure and/or residential redevelopment.
The property occupies a prominent location overlooking St Paul’s Square and is near a variety of occupiers which include Lloyds bank, Tesco Express, Vue Cinema and a selection of bars, restaurants and cafés.
Kirkby Diamond marketed the former Debenhams department store which provides accommodation over six levels. Situated on a prominent town centre site, the vacant 75,377 sq ft building has been acquired by Bedford Borough Council in a deal negotiated by Kirkby Diamond.