Sports Direct headquarters sold for £120m

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Mike Ashley

Sports Direct has sold its Shirebrook headquarters in a £120m deal with a Malaysian pension fund.

Kwasa Logix Sportivo bought the freehold to Sports Direct’s base in Shirebrook, Derbyshire. Sports Direct will take a 15-year lease and keep its headquarters on site.

The discount sportswear retailer has said the funds from the sale will go towards working capital and group operations.

At least 4,000 staff are employed at the Shirebrook site. Sports Direct recently announced the closure of its Wigan warehouse, saying its 300 Wigan employees would be offered work in Shirebrook.

Owner Mike Ashley has been making headlines for several high-profile purchases and sales. Over the last twelve months, Ashley has bought House of Fraser, Evans Cycles, and Sofa.com, and fought for months to take over Debenhams before being thwarted as the company chose to enter administration. Ashley lost approximately £150m in the process.

More recently, Mike Ashley sold his 4.8% stake in online company Mysal and is rumoured to be nearing the sale of Newcastle United with Dubai’s Sheikh Khaled Bin Zayed Al Nahyan.

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