Historic Binns building in Darlington bought by new owner

An unknown buyer has swooped in on the historic building on High Row, which has been home to the House of Fraser department store for decades. 

It comes just weeks after a source close to the project told The Echo that an unknown UK-based investor had expressed a "significant interest" in the building. 

Meetings are set to take place between the buyer and council bosses early next week, where discussions will be had over the short term and long term plans for the site. 

While details about the new owner remain under wraps at this time, we understand they have an extensive background in the property and hospitality industries.

The store will close in November (Image: PAUL NORRIS)

Chris McEwan, Deputy Leader and Cabinet Member for Economy, said: “My understanding is that the Binns building, which Frasers occupy, has been sold. 

“I am very grateful for the agents of the sellers who have passed on our details to the buyers. I intend to, with officers, meet with the buyers of the building early next week to signal that we will support them where we can. 

“But more importantly, try to understand what the plans are for the building both in the short term and the long term.”

Frasers Group remains set to close its store in the building in a matter of weeks after the previous landlord’s decision to terminate its lease earlier this year. 

Bosses of the firm - which owns the Flannels, Sports Direct, and Frasers brands - previously said it planned to stay in its High Row home “for the foreseeable future” before the decision was made by the landlord. 

An official closing date has not been announced by Frasers, although it is believed to be some time in late November.

The news of the building being bought - only three months since The Echo revealed it was on the market - will likely come as a relief to Darlington residents, who feared its future. 

Shoppers previously told their worry of the store closure being the “nail in the coffin” for the town, with Binns having a long history dating back more than 100 years. 

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Speculation has been - and continues to be - rife about what the future of the building could be. 

The listing brochure, which has since been taken down online, previously described the site as offering "prominent retail and leisure opportunities within a landmark building over five floors."

However, several chains have come out in recent months to confirm they were not considering a move into the building, including both Marks and Spencer and Primark.