The Range has been in the frame to take over a former Debenhams store in an Essex high street, according to a property company.

The discount chain signed to open in the former department store in Chelmsford High Street, according to a report published online by AEW UK Real Estate Fund.

Last May, several Debenhams stores across Essex closed their doors for the final time.

The report from the property company says: "In January, the Fund exchanged on a new lease with The Range to occupy 82,000 square feet over Ground, First and Second floors of the former Debenhams in Chelmsford.

"This new lease provides for a 15 year unbroken term with the tenant paying £635,000 per annum with 12 months rent free.

"The transaction will realise a gross valuation increase of over £4.25 million, once landlord works are undertaken and the lease has completed.

"The property was purchased in December 2020 for £4.8 million."

It is not clear whether the plans have progressed since the agreement between The Range and the property company was put in place. 

The Echo has approached the Range on any update to the plans but has not replied to our calls.

Last May, the historic department store closed its last 28 stores for good after the company collapsed in the fallout of the pandemic.

Stores in Colchester, Chelmsford and Basildon all closed down on May 15.

All stores reopened after lockdown for a closing down sale after the firm was bought by online retailer Boohoo for £55million.

The Range was contacted for comment.