Next sells plot of land for 54.1 million pounds

British retail giant Next has sold a plot of land in Essex generating the company net cash proceeds after costs of 54.1 million pounds.

In a regulatory filing, Next said the transaction also brings in an exceptional profit – meaning the deal does not form a part of its normal business – of 16.3 million pounds.

The plot of land, located near Waltham Abbey, was initially acquired in 2021 with the intention of consolidating two of Next’s regional distribution centres.

The retailer has now confirmed that plans for its distribution network have now changed, and that the land is no longer required.

“As a result, the company sold the land in a transaction which was completed on 21 November 2025,” Next announced.

The additional cashflow generated from the deal raises the surplus cash available for shareholder distributions in the current financial year, allowing Next to increase its initial special dividend of 3.10 pounds per share by 45 pence.