The building of Sports Direct International located at UK headquarters has been sold to The Employees Provident Fund (EPF) for £120 million (around RM640 million), as stated by the UK Sunday Times newspaper.

Upon completion of the deal, Sports Direct will sign for a 15-year lease on the property, a warehouse complex located at Shirebrook, Darbyshire, and continue to operate it as a distribution centre, offices and retail business.

The newspaper reported that Sports Direct is said to have been “opportunistic” in selling the site at a time of strong demand for industrial property. EPF has previously traded retail and industrial properties in Britain.

On May 17, Sports Direct, which owned by billionaire Mike Ashley, said that it was in advanced negotiations to sell the freehold rights to the property to KWAA Logix Sportivo Ltd for £120.1 million (around RM640 million). The Sunday Times said EPF owns KWAA Logix Sportivo.

The EPF is also one of the owners of the Battersea power station development in London.

Mike Ashley is also the owner of the Premier League football club Newcastle United.

Source: www.freemalaysiatoday.com