Mike Ashley’s Sports Direct headquarters based at Shirebrook in Derbyshire has been sold for £120m in a deal with a Malaysian pension fund.
Ashley will take a 15-year lease and continue operating from the site, after the sale to Kwasa Logix Sportivo, said to be owned by the Employees Provident Fund (EPF).
The proceedings from the sale will be used to boost working capital to towards the company operations. Last week Ashley also sold his full 4.8% stake in online form Mysal.
Ashley is also nearing the sale of Newcastle United as Sheikh Khaled Bin Zayed Al Nahyan who is based in Dubai revealed on Monday they have both “agreed terms.”