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Lancashire
Thursday, July 18, 2024

BRABNERS REAL ESTATE TEAM ACTS ON LANDMARK DEAL FOR SOFOLOGY

Brabners real estate team has advised specialist sofa retailer Sofology on all property aspects of its £25million sale to market leading furniture retailer, DFS.

The deal comprises 37 Sofology stores across the UK, including Deepdale Park in Preston, White City Retail Park in Manchester and New Mersey Shopping Park in Speke.

Jason Tyldesley, CEO of Sofology, and his management team will continue to lead the business post-completion and Sofology will retain its current headquarters in Golborne, Greater Manchester.

Ian Filby, CEO of DFS, said: “This acquisition represents a clear opportunity for DFS to accelerate our proven strategy, further broadening our appeal. Sofology’s distinctive market position is a good fit with our existing brands and will complement our current portfolio.

“Jason and his team should be congratulated for creating a fantastic and fast-growing business and I’m looking forward to working with them as they continue to grow Sofology as part of the Group.”

Ross Shine, partner and head of real estate at Brabners in Preston, led the deal with support from construction partner Ian Hardman, senior associate Nicola Whittle and chartered legal executive Amanda Cox.

Ross added: “As part of the DFS Group, Sofology has significant scope for further growth and a strong opportunity to build on its recent successes. The business has invested significantly in technology over the past 18 months to build a true omni-channel retail offering. Through its national store network and strong online presence, the business has built a distinct proposition in the market and garnered a unique customer base that will complement the wider group.

“Having worked with Sofology for more than 10 years, it has been a pleasure to support Jason and his team, in particular David Hodgson as Head of Property, on this landmark deal and we look forward to supporting the team as they continue on their growth journey with DFS.”

The deal is subject to regulatory approval.

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