Business
Sale of land at Waltham Abbey
NEXT plc has sold non-operational land at Waltham Abbey, Essex, for £54.1 million in net cash proceeds, generating an exceptional profit of £16.3 million. This additional cash inflow is expected to increase the previously announced special dividend by 45p per share, bringing the total special dividend to approximately £3.55 per share, assuming no further acquisitions or share buybacks this year. Disclaimer*
About this update from Next Plc
25 November 2025 NEXT plc ("the Company" or "NEXT") Sale of non-operational land at Waltham Abbey, Essex · £54m additional cash inflow · Additional cash likely to be returned to shareholders through special dividend of 45p · £ 16m exceptional profit In 2021, the Company purchased land near Waltham Abbey with the intention of consolidating two of our Regional Distribution Centres. Since then the plans for our Distribution Centre network have changed, and we no longer plan to use this land. As a result, the Company sold the land in a transaction which was completed on 21 November 2025. The sale generates net cash proceeds after costs of £54.1 million and an exceptional profit of £16.3m. Transactions of this nature do not form part of our normal business and so this profit will be classified as exceptional. The £54m of additional cashflow increases the surplus cash we have available for shareholder distributions in the current year. In our Q3 Trading Statement in October we explained that, in the absence of any acquisitions or further share buybacks this year, we would pay a special dividend of around £3.10 per share. The £54m additional cash inflow would increase that dividend by 45p. Contacts: Jonathan Blanchard, Chief Financial Officer (analyst calls) NEXT PLC Tel: 0333 777 8888 Alistair Mackinnon-Musson Email: [email protected] Rowbell PR Tel: 020 7717 5239