A DEAL which would see new owners take over the former M&S store is near completion, the Guardian understands.
The property at 21 Leicester Street, which housed Sainsbury's and latterly Marks and Spencer – prior to the store's closure in August – has been marketed for sale since the spring.
Located at the entrance to Barons Square from Witton Street, the freehold was marketed for sale at £6,500,000, with annual rent of £330,000.
A source told the Guardian that the property is under offer, and an unnamed buyer could complete by mid-October.
Across two floors, the building comprises some 36,000sq ft of floor space and, in its present form, a 99-year lease runs until November 1, 2082.
Marketing information produced in May by property firm Christopher Dee said: "The property comprises a purpose built two-storey supermarket, originally constructed for J Sainsbury’s in the early 1980s and now occupied by Marks & Spencer.
"The property currently trades over ground floor only, with a first floor providing stores and ancillary accommodation.
"To the rear of the property is a dedicated loading area accessed from Weaver Way, behind which the Barons Quay shopping centre continues with further retail and leisure units including an Odeon cinema."
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