UK DIY News

List Of Homebase Stores Up For Sale

The Independent reports that Homebase had been waiting on around £5m in tax rebates prior to falling into administration earlier this month.

On the 13th November, CDS (Superstores International) Ltd acquired the Homebase brand, IP and 70 stores, saving 1,600 jobs out of around 3,600. A list of the remaining 74 leasehold Homebase stores which are up for sale has now been made public - please see bottom of article for more details.

Interested parties now have until the 29th November to purchase the remaining stores as the business attempts to recoup funds for creditors.

It has also been revealed that Homebase was waiting for around £5m in tax rebates, according to commercial real estate adviser Altus Group, which had been representing the retailer. Altus told the press that that 50 appeals, challenges and checks relating to Homebase's property tax liabilities were still outstanding when administrators were appointed, and the business was seeking a £5.7m reduction in the overall rateable value of its store portfolio, following an annual business rates revaluation in 2023.

Alex Probyn, president of property tax at Altus Group, said:

“The appeal process is just far too slow and ultimately damaging to cash flow.

“With business now facing the biggest tax increases in three decades, the 2023 tax base must be corrected quickly to ensure that ratepayers not only receive their rebates timely but also have the confidence that their bills have been set fairly.”

The 74 Homebase stores which are now on the market are: