Merchant Retail Group has sold the former Woodwards department store at Leamington Spa in Warwickshire to Cardiff-based Atlantic Property Developments.

The store, which closed in July, occupies a prime position on the corner of The Parade and Regent Street. Atlantic plans to refurbish the building to provide about 21,000 sq ft (1,950 sq m) of retail space, with luxury apartments above.

King Sturge partner Gareth Williams, who advised the purchaser, said: ‘The proposals for the refurbishment will revitalise the building and enable additional high-quality retailers to gain representation within the already popular town centre.’