BRAINTREE’S oldest shop site has gone on the market for £1.3m – but the family behind the store have denied it is set to close.

Townrow department store, in Braintree High Street, was established in 1871 by Charles Townrow and now occupies three properties at numbers 63, 65 and 67.

The freehold for the 13,500 sq ft store is being advertised by Whybrow chartered surveyors for £1,350,000.

The listing says the building already has planning consent for retail, but that offers are subject to the occupational lease.

Despite the property being offered for sale, Charles’ great-great-great-grandson Edward said there was no cause for concern.

Mr Townrow, the current managing director of the firm, said: “We are not closing down, we are just looking at selling the freehold off.

“The building is not actually owned by the business.

"It’s owned by different parts of the family, so it’s to have a look at sorting that out.

“We have to look at what we are doing in terms of ownership of the building and we need to have a market price for it.

“It’s quite a complex arrangement, people don’t understand the way businesses are set up. Some of the properties have multiple owners, so it’s very difficult to explain.”

He added: “There are a few options. One is that the business buys the property, but it has to go out to market.

“It doesn’t even mean we will go for for that option, but we are just having a little look to see what the right thing is for the family and, most importantly, for the people who work with us.”

A spokesman for Whybrows of Colchester confirmed it was marketing the property for sale.

He said: “It is on our website and that is all I can say.”