Scaffolding is going up at the former offices of Mothercare in Watford which was acquired in a £9m purchase.
The 34,000sq ft warehouse next door has been purchased by Cinch Self Storage and Padlock Partners UK Fund III.
The retailer went into administration in November 2019 and announced a month later it would be vacating its headquarters in Cherry Tree Road, near the Dome roundabout, as part of a cost-cutting exercise.
Almost 400 jobs were lost, with further jobs were lost when the Watford Arches store closed and is now home to The Range.
Richard Owen, director at Cinch Storage, said: “The unit provided us with a unique chance to acquire secure warehouse space in an incredibly desirable location.
“Once fully redeveloped, the store will have in excess of 65,000 sq. ft of lettable space and we will look to begin trading in the summer of 2023.”
John Stevenson, CEO at Padlock Partners UK Fund III, said: “We are happy to acquire the Watford property in such a great location and community.
“This acquisition contributes greatly to our efforts to build a first-class self-storage platform and fits perfectly with our nearby locations.”
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