Over 70 stores let to M&S are to be sold by landlord Topland Group for approximately £500 million, although the retailer is not expected to vacate the properties if and when ownership is transferred.

The stores were originally sold by M&S 15 years ago in order to raise £348 million capital, with the stores leased back to the company as part of the deal. Generating over £31 million every year, the portfolio is likely to generate “significant interest”, particularly 13 stores which are in prime London location such as Camden, Chiswick, Clapham and Putney.