This post was first published by My London on 13/05/2019.
Croydon’s iconic Toys R Us site sold for a huge amount of money
The giant shop of Purley Way has been empty for more than a year.
Many of us drive by the empty Croydon Toys R Us store on a weekly, if not daily, basis and get a flash of nostalgia from when we all ran around the aisles desperate to get the latest must-have toy.
The giant unit, sticking out like a sore thumb between Currys PC World and Next Home on Purley Way, has sat empty for more than a year and we are finally a step closer to finding out what is going to happen to it.
FI Real Estate Management (FIREM) announced on Monday (May 13) the site, with its large car park, has been sold for a staggering £16.1 million.
Mystery remains on what is going to happen to the site though, with a FIREM spokeswoman saying they are not allowed to say who has bought it or what is going to happen to it.
Giving hope that a big name retailer could be lined up to move in, the spokeswoman added: “There is a healthy appetite from a variety of well-known operators and investors for such out of town properties.”
The giant store was refurbished to allow a wider range of toys to be sold just months before it closed.
New floors were laid in the 45,000 square foot store, new ceilings put in place and lighting improved between the end of September and early November 2017.
New toys from Star Wars, Lego, Paw Patrol and PJ Masks were also brought in ahead of the Christmas rush.
The added investment was not enough to stop the branch from closing in April 2018 though, after the chain went into administration in February.
Croydon Council planning officers approved an application to allow the site, on Trojan Way, to be used for storage and distribution as well as retail in March 2019 – potentially giving a hint as to what the new owner wants to do with the building.
The Croydon store was one of dozens which shut, with 24 still to be sold according to FIREM.
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