Central Co-op is thrilled to announce that it has taken home the title for Most Sustainable Retailer Initiative of the Year at the Retail Industry Awards 2024. This award, presented at one of retail’s most esteemed events, recognises Central Co-op’s deep-rooted commitment to sustainability. The Most Sustainable Retailer Initiative of
Greggs, the UK’s much-loved bakery chain, is on track for an impressive year of growth, with plans to open between 140 and 160 net new stores by the end of 2024. The company, which operated 2,559 locations as of the end of September, has already opened 152 new stores this
The Portman Estate and Derwent London have unveiled exciting plans for Loxton Walk, a vibrant new retail and leisure destination in the heart of Marylebone. Set to launch in 2025, Loxton Walk will introduce 28,500 sq ft of cutting-edge retail and leisure space, spread across 17 units that will be
Aldi is set to make its largest-ever annual investment in the UK, following a remarkable surge in sales. The supermarket giant is investing £800 million to expand and refurbish stores across the country, as it continues to strengthen its foothold in the British retail market. The move comes after Aldi
Derbion, Derby’s leading shopping and leisure destination, has announced that work will soon commence on creating a striking new gateway to Derby city centre, following final funding approval from Derby City Council. The Eastern Gateway project, a partnership between Derbion and the government’s Future High Streets Fund, will introduce a
Aldi has announced its largest-ever annual investment, committing £800 million to accelerate its store expansion across the UK. The supermarket giant plans to open 23 new stores by the end of the year, with key locations including Muswell Hill, London, and Caterham, Surrey. This forms part of a broader £1.4
Wickes has unveiled an “exciting pipeline” of new store openings as the DIY and trade retailer sets its sights on reaching 250 locations in the coming years. This announcement comes as part of the retailer’s interim results for the first half of 2024, a period that saw the opening of
Savills has bolstered its retail, leisure, and food and beverage research capabilities by appointing Matt Thompson as director in a newly created role. With over 15 years of experience in retail and consumer insights within the real estate sector, Thompson brings a wealth of knowledge to the team. He joins
British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its
Sainsbury’s has secured a deal to acquire 10 leasehold properties from Homebase, with plans to convert them into supermarkets. These strategic locations are spread across England, Northern Ireland, and Scotland, aligning with Sainsbury’s goal of expanding its presence in key areas. Once transformed, the new supermarkets will feature shop floors
Central Co-op is thrilled to announce that it has taken home the title for Most Sustainable Retailer Initiative of the Year at the Retail Industry Awards 2024. This award, presented at one of retail’s most esteemed events, recognises Central Co-op’s deep-rooted commitment to sustainability. The Most Sustainable Retailer Initiative of the Year award recognises exceptional efforts in advancing environmental practices and celebrates Central Co-op’s groundbreaking work on its journey to becoming green-energy self-sufficient. The installation of solar panels across Central Co-op’s 182 retail and funeral locations plays a vital role in the retailer’s purpose: creating a sustainable Society for all. This initiative’s primary objectives are to enhance green energy self-sufficiency, reduce carbon emissions and create long-term cost-saving opportunities that can be reinvested in other sustainability measures and community projects. It is designed to reduce reliance on traditional, fossil fuel-based electricity by generating solar power on-site, addressing the dual challenges of the climate crisis and rising energy costs. In terms of environmental impact, the initiative has been significant. By generating 2,023,397 kWh of solar energy in 2023 alone, Central Co-op achieved 4% of its total energy consumption from renewable sources, reducing carbon emissions by 487,806 tonnes. This reduction is equivalent to the environmental benefit of planting approximately 22,479 trees annually. As well as the award win, Central Co-op was also named as finalists in the Best Use of Technology category, for its electronic shelf edge label rollout; Store Manager of the Year, for Sundeep Stewart’s achievements at Central Co-op’s Kibworth Beauchamp store; as well as the prestigious Convenience Retailer of the Year. The Retail Industry Awards brings together the industry’s greatest to celebrate and reward the organisations, teams and individuals contributing to the advancement of retail. The award was judged by a distinguished panel of retailers, ex-retailers, industry experts, analysts and sector leaders. Their industry knowledge and keen scrutiny of all submissions make this award particularly meaningful, highlighting the real impact of our efforts on sustainability in the retail sector. For more information on Central Co-op’s initiatives, visit centralcoop.co.uk or find out more on socials. Details on becoming a Member can be found on membership.centralengland.coop/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Greggs, the UK’s much-loved bakery chain, is on track for an impressive year of growth, with plans to open between 140 and 160 net new stores by the end of 2024. The company, which operated 2,559 locations as of the end of September, has already opened 152 new stores this year while closing 66, including 43 relocations. The expansion includes the growing popularity of Greggs’ drive-through outlets, with new sites recently launched at Abbeywood Retail Park and Harlequin Business Park in Bristol. In its third-quarter trading update, covering the 13 weeks ending 28 September, Greggs reported a 10.6% increase in total sales, bringing year-to-date growth to an impressive 12.7%. Like-for-like sales in company-managed stores were also strong, rising 5% compared to the same period in 2023. Innovation has been key to Greggs’ continued success. The bakery chain’s product development, including the launch of a popular over-ice drinks range, has contributed significantly to its sales surge. Currently available in 800 locations, the drinks line is expected to reach 1,000 shops by the end of the year. New additions to the Autumn menu, such as the All-Day Breakfast Baguette and Mexican Bean & Spicy Cheese Flatbread, are also expected to drive sales as the colder months approach. Extended trading hours and the expansion of digital sales channels have further bolstered Greggs’ performance. Despite the ongoing economic uncertainty, the company remains confident in its long-term growth prospects and maintains its outlook for the full year. In a bid to balance consumer costs, Greggs has also revised its inflation estimates, now anticipating that cost increases for 2024 will fall towards the lower end of its previous 4-5% projection. This is welcome news for customers, especially those who have voiced concerns over rising prices in recent years, including the iconic sausage roll. With a robust expansion strategy, menu innovation, and continued sales growth, Greggs is firmly on course for a landmark year, cementing its place as a staple of the British high street. Building, Design & Construction Magazine | The Choice of Industry Professionals
The Portman Estate and Derwent London have unveiled exciting plans for Loxton Walk, a vibrant new retail and leisure destination in the heart of Marylebone. Set to launch in 2025, Loxton Walk will introduce 28,500 sq ft of cutting-edge retail and leisure space, spread across 17 units that will be easily accessed from George Street, Blandford Street, Gloucester Street, and the iconic Baker Street. At the heart of the development will be a bustling central courtyard, designed to become a lively social hub for residents, workers, and visitors alike. The space will range from kiosk units to flagship restaurant spaces, with unit sizes spanning from 300 sq ft to 5,800 sq ft, offering flexibility for businesses looking to create anchor stores or boutique offerings. Outdoor seating areas and enhanced public spaces will further enrich the visitor experience. Loxton Walk will seamlessly complement The Portman Estate’s ongoing transformation of Marylebone, joining other landmarks such as Chiltern Street and Marble Arch. The area recently welcomed the opening of Moco London, the largest European outpost of the internationally renowned Moco Museum, further cementing Marylebone’s position as a key cultural and commercial hotspot. The development is part of a larger mixed-use scheme by The Portman Estate and Derwent London, which also includes 206,000 sq ft of modern office space on Baker Street and an additional 12,000 sq ft of workspace at 30 Gloucester Place. Tom Knight, Portfolio Director at The Portman Estate, commented: “Loxton Walk reflects our commitment to creating a thriving, commercially successful neighbourhood in central London. This exciting new retail and leisure offering, developed in partnership with Derwent London, will provide a valuable new public space and enhance the amenities available to those who live, work, and visit Marylebone.” Philippa Abendanon, Head of Leasing at Derwent London, added: “Loxton Walk is a perfect example of how we integrate design, connectivity, and high-quality amenities in prime locations. This vibrant new destination will offer exceptional spaces for people to enjoy and explore, embodying our shared vision with The Portman Estate for creating standout places in one of the world’s greatest cities.” Savills has been appointed to market Loxton Walk, which is set to become one of London’s most exciting new retail and leisure hubs. Building, Design & Construction Magazine | The Choice of Industry Professionals
Aldi is set to make its largest-ever annual investment in the UK, following a remarkable surge in sales. The supermarket giant is investing £800 million to expand and refurbish stores across the country, as it continues to strengthen its foothold in the British retail market. The move comes after Aldi reported a 16% boost in sales for 2023, with revenue for the UK and Ireland growing by £2.4 billion, from £15.5 billion in 2022 to £17.9 billion by the end of 2023. Pre-tax profits saw a staggering leap from £152.6 million to £536.7 million, thanks to a combination of record-breaking sales and increased operational efficiencies. Operating profits also grew to £552.9 million, with Aldi achieving a 3.1% profit margin. In response, the discounter has announced plans for an £800 million investment, which will see the opening of 23 new stores and the refurbishment of 100 existing ones before the end of the year. The investment will also be used to expand Aldi’s distribution network and upgrade its technology infrastructure to support its rapid growth. Aldi, currently operating more than 1,000 stores in the UK, aims to increase this number to over 1,500 in the coming years. Giles Hurley, CEO of Aldi UK and Ireland, commented: “British shoppers are voting with their feet and choosing Aldi as their go-to supermarket. We’re responding with our biggest-ever investment, using every £1 of last year’s profit to invest £2 this year. We’re opening more stores, enhancing our infrastructure, and bringing high-quality, affordable groceries to even more families across Britain. “We’re also making record investments to lower prices, reward our fantastic colleagues, and support local communities, all while creating thousands of jobs and providing more opportunities for our growing network of British suppliers and farmers.” In August, Aldi made the decision to discontinue its click-and-collect service, which had been introduced during the pandemic. The move reflects the evolving online grocery market, with online sales shrinking to less than 13%, down from the pandemic peak of around 15%. During the cost-of-living crisis, Aldi surged ahead of Morrisons to become the UK’s fourth-largest supermarket, capitalising on shoppers’ increasing demand for budget-friendly options. However, recent data shows Aldi’s market share has slipped slightly, with the retailer holding 10% of the market in the 12 weeks leading up to 4 August, down by 20 basis points compared to the previous year. Despite this, Aldi’s ambitious expansion and investment strategy suggests the supermarket is well-positioned to maintain its competitive edge and continue attracting shoppers across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals
Derbion, Derby’s leading shopping and leisure destination, has announced that work will soon commence on creating a striking new gateway to Derby city centre, following final funding approval from Derby City Council. The Eastern Gateway project, a partnership between Derbion and the government’s Future High Streets Fund, will introduce a modern façade and urban garden, transforming the area opposite the bus station and Derbion’s eastern entrance. The project aims to revitalise the space, making it a more attractive and welcoming entrance to the city centre. Construction is set to begin this month, with the project scheduled for completion in the first half of 2025. Beth McDonald, Managing Director at Derbion, said: “The Eastern Gateway will provide a fresh, inviting entrance to the city centre, transforming the area into a vibrant urban square. We’re excited to begin the development and to see the positive impact it will have on footfall and visitor experience.” Councillor Nadine Peatfield, leader of Derby City Council and cabinet member for city centre regeneration, added: “I’m delighted that this project is moving forward, marking a significant milestone in the transformation of Derby’s city centre. This development will not only enhance the appearance of the area but also create an inclusive space that everyone can enjoy. It’s a key step in better connecting the city and ensuring Derby’s future is bright and full of opportunities.” The Eastern Gateway is part of Derby’s broader city centre regeneration, with £3 million allocated from the £15 million awarded to the council by the government’s Future High Streets Fund. Derbion is contributing an additional £1 million to the scheme. Building, Design & Construction Magazine | The Choice of Industry Professionals
Aldi has announced its largest-ever annual investment, committing £800 million to accelerate its store expansion across the UK. The supermarket giant plans to open 23 new stores by the end of the year, with key locations including Muswell Hill, London, and Caterham, Surrey. This forms part of a broader £1.4 billion two-year growth plan. In addition to expanding its footprint, Aldi is refurbishing 100 of its existing stores as part of the investment push. The announcement coincides with the release of Aldi’s 2023 annual results, revealing a remarkable £2.4 billion increase in sales, reaching a total of £17.9 billion—the retailer’s highest-ever growth period. Aldi’s pre-tax profit also saw a substantial rise, jumping to £536.7 million from £152.6 million in 2022. This boost in profitability was driven by record sales and enhanced operational efficiencies across its store network and central operations. Giles Hurley, CEO of Aldi UK and Ireland, commented: “British shoppers are voting with their feet and choosing Aldi as their first-choice supermarket. We’re responding with our biggest ever annual investment in Britain. For every £1 of profit generated last year, we’re investing £2 this year – opening more stores and building the supply infrastructure to bring high-quality, affordable groceries to millions more families across the country.” Hurley continued: “We’re also investing at record levels to cut prices, reward our amazing colleagues, and support more local causes. All while creating thousands of jobs and providing even more opportunities for our growing base of British suppliers and farmers.” With over 1,000 stores currently in the UK, Aldi is aiming for a long-term goal of reaching 1,500 locations, solidifying its position as one of Britain’s most rapidly expanding supermarket chains. Building, Design & Construction Magazine | The Choice of Industry Professionals
Wickes has unveiled an “exciting pipeline” of new store openings as the DIY and trade retailer sets its sights on reaching 250 locations in the coming years. This announcement comes as part of the retailer’s interim results for the first half of 2024, a period that saw the opening of two new stores in Long Eaton and Durham. However, Wickes also made the decision to close two underperforming branches in Ashton Gate, Bristol, and Inverness, leaving it with a total of 229 stores by the end of June. Looking ahead, Wickes remains optimistic about its expansion plans. The company’s property strategy is on track for the remainder of the year, with a new store in Aberdeen – its first in Scotland in over a decade – having opened in August, and another branch in Leamington Spa expected to launch in the final quarter of 2024. Despite a challenging first half, during which Wickes reported total revenues of £799.9 million, a 3.4% drop year-on-year, and a dip in adjusted pre-tax profit to £23.4 million (down from £31.1 million in the first half of 2023), the retailer is optimistic about future growth. Trading in the third quarter has already shown signs of improvement. David Wood, Chief Executive of Wickes, said: “We are on track for the remainder of the year and have been encouraged by trading at the start of the second half. Looking further ahead, our outstanding customer offer, proven growth levers, and focus on cost control leave us well-placed within a home improvement market which continues to offer significant opportunities.” As Wickes focuses on its long-term goal of expanding to 250 locations, it continues to position itself as a key player in the UK’s home improvement sector, building on its solid customer base and strategic property growth. Building, Design & Construction Magazine | The Choice of Industry Professionals
Savills has bolstered its retail, leisure, and food and beverage research capabilities by appointing Matt Thompson as director in a newly created role. With over 15 years of experience in retail and consumer insights within the real estate sector, Thompson brings a wealth of knowledge to the team. He joins from Shaftesbury Capital, where he served as Head of Property Insight, and previously held the position of Head of Retail Strategy at Colliers for six years. In his new role, Thompson will collaborate with Savills’ retail and leisure agency and research teams, focusing on integrating analytics and consumer data to create commercial value for clients. Alan Spencer, Head of UK Retail at Savills, commented: “We are delighted to welcome Matt to the team. His expertise in consumer intelligence will enhance our consultancy services and support our ongoing projects.” Thompson added: “I’m excited to bring my experience to Savills, helping clients navigate the shifting consumer landscape and ma Building, Design & Construction Magazine | The Choice of Industry Professionals
British Land has bolstered its leading retail park portfolio with £240 million worth of acquisitions, reflecting a strong blended net equivalent yield of 7.4%. These strategic acquisitions align with the company’s plan to reinvest the £360 million from the sale of its stake in Meadowhall Shopping Centre into expanding its retail park footprint. These acquisitions are set to enhance British Land’s earnings, with projections indicating an increase in FY26 earnings per share by 0.7p, fully offsetting the dilution from the Meadowhall sale. Pro forma leverage, following the Meadowhall disposal, was 34.6% for FY24, with the new acquisitions raising this by 1.8%. The six retail parks acquired since April feature an impressive weighted average unexpired lease term of five years. They are let to strong multi-channel and essential retailers, known for their stable financial performance: Simon Carter, Chief Executive of British Land, commented on the acquisitions:“We’re seeing great opportunities to invest in retail parks, and we’ve quickly delivered on our plan to fully offset the earnings dilution from the £360 million Meadowhall sale with the acquisition of £240 million in high-quality retail parks at attractive yields. With low capital expenditure requirements and 99% occupancy, our retail parks portfolio is generating strong rental growth and offers attractive cash returns.” British Land’s investment in these prime retail parks highlights its commitment to capitalising on opportunities within the retail sector, ensuring strong returns while continuing to grow its portfolio across the UK. Building, Design & Construction Magazine | The Choice of Industry Professionals
Sainsbury’s has secured a deal to acquire 10 leasehold properties from Homebase, with plans to convert them into supermarkets. These strategic locations are spread across England, Northern Ireland, and Scotland, aligning with Sainsbury’s goal of expanding its presence in key areas. Once transformed, the new supermarkets will feature shop floors ranging between 15,000 and 40,000 sq ft, collectively adding 235,000 sq ft to Sainsbury’s trading space. The acquisition is set to be finalised by early September, with the first store expected to open next summer. Sainsbury’s aims to complete all conversions by the end of 2025. The retailer has earmarked approximately £130m for this investment, covering the total capitalised cost of leases, acquisition premiums, and fit-out expenses. Sainsbury’s anticipates strong financial returns from these stores, with return on capital employed expected to be comfortably in the low teens, surpassing its cost of capital. Simon Roberts, CEO of Sainsbury’s, stated: “Our food business continues to gain momentum as we advance with our Next Level Sainsbury’s strategy. We offer the best combination of value and quality in the market, attracting customers from our key competitors and consistently growing our volume market share. Expanding our supermarket footprint is a key part of our strategy to become the first choice for food across the UK, and these new stores will allow us to serve even more communities.” The Homebase stores set to become Sainsbury’s supermarkets are located in: Building, Design & Construction Magazine | The Choice of Industry Professionals
