Mystery surrounds a former town centre Debenhams store, which has finally been sold.

Rumours over what the prominent Gravesend building would become have been rife in the community as the 76,000 sq ft unit has sat vacant for the past four years.

However, it has now been revealed by FMX Urban Property Advisers that the freehold has been sold to a private investor.

In a statement, the London-based consultancy firm said: “After five years of work, countless challenges, and a fair few twists along the way, the sale of the former Debenhams to a private investor has now been completed.

“A special thank you to our joint agent Sealeys Walker Jarvis in Gravesend, whose support and local expertise, particularly in the latter stages, helped bring this transaction across the line.

“We see this deal as a real testament to our team’s commitment to sticking with a project, adapting to market shifts, and working creatively to deliver a strong result for our client.

“It is a great example of how perseverance, teamwork, and market insight can unlock fantastic opportunities and town centre regeneration.”

However, mystery still surrounds the premises in New Road, as it is not known who the new owner is.

When KentOnline asked FMX Urban Property Advisers about the buyer, a spokesperson said the investor would like to remain confidential.

The former Debenhams unit closed its doors for the final time on May 2, 2021, after the retail giant fell into administration and then liquidation.

It came after years of trying to balance the books amid a changing retail landscape.

There were hopes the store could continue trading; however, these were quashed when online fashion retailer Boohoo announced it would be taking over the 242-year-old brand and had no plans to keep any of the 118 outlets open.

The decision to close its stores was described as a “devastating blow to the high street” by one union at the time, and around 12,000 jobs were lost nationwide.

On its last day, customers flocked to the Gravesend department store to capitalise on the last-minute deals and were seen forming long queues outside.

Last year, it was thought that the store was poised to become a Poundland after the discount retailer sought advertisement consent to install a new illuminated sign on the shopfront.

Permission was granted in April 2024; however, no changes have been made to the unit.