Wolverhampton, Cannock and Telford Homebase stores among troubled DIY giant's UK stores put up for sale

Four Midlands properties are on the list of those put up for sale by the group, including the firm's stores in Wolverhampton, Cannock, Oldbury and Telford. 

Nearby stores in Newcastle-Under-Lyme and Battery Retail Park in Birmingham are also listed for sale.

The firm has set a deadline of November 29 for potential buyers to snap up the group's remaining retail units.

Homebase appointed administrators at consultancy Teneo last week after the firm said it was hit hard by an “incredibly challenging” three years for the DIY sector, amid emerging reports that the stricken firm was waiting on around £5 million of tax rebates before collapsing into administration. 

Commercial real estate adviser Altus Group, which represented the chain, said more than 50 checks, challenges and appeals against the retailer’s property tax liabilities were outstanding at the time of its collapse. 

The company was seeking reductions in the overall rateable value of its store portfolio by £5.7 million following a 2023 revaluation of its annual business rates bill.

Alex Probyn, president of property tax at Altus Group, said: “The appeal process is just far too slow and ultimately damaging to cash flow.

“With business now facing the biggest tax increases in three decades, the 2023 tax base must be corrected quickly to ensure that ratepayers not only receive their rebates timely but also have the confidence that their bills have been set fairly.”