Shirebrook headquarters of Sports Direct sold for £120 million

The Shirebrook headquarters of Sports Direct
The Shirebrook headquarters of Sports Direct

The Shirebrook headquarters of Sports Direct have been sold in a £120 million deal.

The company, owned by Mike Ashley, has confirmed the news this morning.

The warehouse, at Brook Park East, has been sold to a Malaysian company called Kwasa Logix Sportivo Limited, but Sports Direct will take a 15-year lease on the property, and continue to operate it as a distribution centre, offices and retail.

In a statement, Sports Direct said: "The company intends to use the proceeds of sale towards the working capital of the Company and its group operations.

"Completion is expected to occur on or before 21 June 2019."