Inhale Capital Funds the Purchase of Former Debenhams in Middlesbrough

Inhale Capital has provided £350,000 in funding to support the purchase of the former Debenhams department store in Middlesbrough town center.

The prominent landmark building, which is currently vacant, sits at the heart of the town’s retail core and represents a strong opportunity for repositioning and future redevelopment.

Future Plans for the building..

The building will undergo a light refurbishment before being brought back to life as a multi-unit commercial space. The plans include creating several retail units on the ground floor, while the upper floors will be refreshed and repurposed to provide additional commercial accommodation.

There has already been early interest from potential occupiers, including a gym group and an aesthetics business!

The refurb:

The works required is mainly internal and relatively straightforward. The borrower’s experienced in-house construction team will carry out the refurbishment, with the project expected to be completed in around three months.

Exit Strategy:

Following the refurb, the plan is to sell the property.

However, with growing interest from both occupiers and investors, refinancing and holding the property could also be considered as an alternative exit.