Aldi, the popular supermarket retailer, has unveiled its latest plans to expand its footprint across the UK, aiming to achieve its long-term target of 1,500 stores. Currently operating over 1,020 stores, Aldi is actively seeking new locations to ensure high-quality food is accessible to all. In a bid to identify
Salford City Council has approved plans to redevelop part of Walkden Town Centre. Acting on behalf of the Albert Gubay Charitable Foundation, Derwent Estates submitted plans to demolish circa 180,000 sq ft of the current retail space within Egerton Walk and Victoria Square. Advised by Savills planning department, the plans
JD Sports is planning to open 200 new stores globally this financial year, despite recording a drop in profits. During the last financial year, the sportswear retailer opened 249 stores, closed 248, and disposed of 74 across all its fascias globally, bringing its total store estate to 3,317 stores. In
Asda is launching a £50m store upgrade programme designed to enhance the shopping experience for customers in its larger supermarkets and superstores. The programme, which commences at the Long Eaton store in Nottingham, will extend across 170 stores in total and is expected to complete by the end of November.
Shaftesbury Capital has reported “strong” retail and hospitality leasing demand across its London portfolio so far in 2024. From 1 January to 3 May 2024, the real estate investment trust (REIT) welcomed 23 new brands and concepts to its West End estate. Highlights from the REIT’s portfolio include the expansion
In line with its strategy to focus on retail parks and reduce exposure to covered shopping centres, British Land has exchanged contracts for the sale of its 50% stake in Meadowhall Shopping Centre to its partner, Norges Bank Investment Management, for £360 million. Earlier this year, the joint venture also
A principal contractor has been appointed to develop a new retail and trade park within Wynyard Business Park, anchored by a Sainsbury’s superstore. Hebburn-based Castle will lead the scheme, developed by Northumberland Estates, which includes 52,000 sq ft of retail space and a 45,000 sq ft trade park at the
Superdrug is set to open 25 new stores in 2024, as the health and beauty retailer celebrates 60 years on British high streets. The retailer aims to enhance its customers’ physical shopping experience by opening “bigger and better” stores. This strategy has already seen Superdrug double the size of its
Asda has today unveiled plans for a transformational Mixed-Use Redevelopment of its ten-acre Park Royal site in North West London. The retailer has partnered with leading property Developer Barratt London on plans to redevelop the Brownfield site which is currently home to its Park Royal Superstore. The proposal, which is
The owners of Ocean Terminal have confirmed they have signed a deal which will bring a Tesco Express to the Leith waterfront development as part of multi-million pound plans to regenerate the site. The addition of the supermarket to the retail section of the redevelopment is expected to create up
Aldi, the popular supermarket retailer, has unveiled its latest plans to expand its footprint across the UK, aiming to achieve its long-term target of 1,500 stores. Currently operating over 1,020 stores, Aldi is actively seeking new locations to ensure high-quality food is accessible to all. In a bid to identify optimal sites for upcoming store launches, Aldi launched a nationwide campaign in May 2024, inviting the public to suggest priority locations. The response was overwhelming, with thousands of requests pouring in from across the country. After carefully reviewing these suggestions, Aldi has updated its list of priority locations for new stores. The retailer is now targeting a variety of areas, including multiple sites in London such as Woodford, Surbiton, South Croydon, Notting Hill, Walthamstow, Beckenham, Bromley, and Barnet. Other targeted locations include Redhill in Surrey, Aldershot in Hampshire, Haywards Heath and Burgess Hill in West Sussex, Chatham in Kent, Cheadle and Chorlton in Greater Manchester, Formby in Liverpool, Newark in Nottinghamshire, Chesterfield in Derbyshire, Wellingborough in Northamptonshire, Rayleigh and Brentwood in Essex, Dorchester in Dorset, Clarkston and Cathcart in Glasgow, Penzance in Cornwall, Warwick in Warwickshire, and Bath in Somerset. Additionally, Aldi has identified over 100 potential sites within the M25 motorway and another 100 locations in the wider South East region where there is significant demand for new stores. Aldi’s expansion strategy includes both its standard stores and the smaller Aldi Local format, which caters to urban areas within the M25 with a size of around 5,000 square feet. Jonathan Neale, Aldi UK’s Managing Director of National Real Estate, emphasised the retailer’s commitment to accessibility: “We want to make high-quality food accessible to all, but we can’t do that while there are still some towns and areas that either don’t have an Aldi or have capacity for additional stores. We recognise there is huge demand in certain regions for more stores, which is why we decided to get the public’s input on our latest list of priority locations. They have helped us identify where demand is greatest, and we will continue to work to bring Aldi to as many people as possible.” To accommodate its expansion, Aldi is seeking sites that can host a 20,000 square foot store with around 100 parking spaces, ideally located near main roads with good visibility and access. This aggressive growth plan is supported by Aldi’s substantial investment strategy, which includes over £550 million allocated to its store and distribution network throughout 2024. This investment will fund the opening of new stores and the enhancement of existing locations and distribution centres. As Aldi continues its rapid expansion, it aims to meet the growing demand for its high-quality, affordable products across the UK. By engaging with the public and strategically selecting new locations, Aldi is well on its way to achieving its ambitious target, ensuring more communities benefit from the Aldi shopping experience. Building, Design & Construction Magazine | The Choice of Industry Professionals
Salford City Council has approved plans to redevelop part of Walkden Town Centre. Acting on behalf of the Albert Gubay Charitable Foundation, Derwent Estates submitted plans to demolish circa 180,000 sq ft of the current retail space within Egerton Walk and Victoria Square. Advised by Savills planning department, the plans also included the construction of a contemporary new façade providing a new entrance to the Centre with landscaped public realm space to the front. Scott Hall, Asset Manager at Derwent Estates said: “We fully understand the importance of Walkden Town Centre to the local area, which is why we have taken this proactive decision to significantly improve its current offering to create a more contemporary and attractive yet sustainable environment for both retailers and visitors. We recognise the changing attitudes and expectations of all stakeholders, which is why these plans are so imperative to ensuring a vibrant future for the Centre.” Designed by architectural practice, RGP, Derwent Estates will now look to appoint a contractor to carry out the demolition works and is currently liaising with tenants as part of its relocation programme. The scheme is being project managed by Artal. Barker Proudlove and Graham Sibbald are the retained letting agents. Building, Design & Construction Magazine | The Choice of Industry Professionals
JD Sports is planning to open 200 new stores globally this financial year, despite recording a drop in profits. During the last financial year, the sportswear retailer opened 249 stores, closed 248, and disposed of 74 across all its fascias globally, bringing its total store estate to 3,317 stores. In the UK and Republic of Ireland, JD Sports opened 21 new stores and closed 13, increasing its store portfolio by a net eight stores. This included the relocation and expansion of its Birmingham Bullring store, as well as new stores in Coventry and Bedford. After the period ended – at which point the retailer operated 454 stores – JD Sports also opened a flagship store at Westfield Stratford. The group also expanded its JD Gyms estate, opening in eight locations during the period. JD now operates 85 gyms in its principal UK market. This comes as the group releases its results for the 2024 financial year, during which its revenue increased by 2.7% to £10.4 billion. However, growth was negatively impacted by a number of disposals made during the period, which comprised the 52-week period ending 27 January. However, profit before tax and adjusting items fell by 8% to £912.4 million, which JD Sports attributed to increased investment. Régis Schultz, chief executive officer of JD Sports, said the strong revenue performance was “delivered in a challenging market.” He added: “We have started the new financial year with Q1 in line with our expectations in a volatile market and we are on track to deliver our profit guidance for the full year. Looking further ahead, we have a strong business model and a clear strategy to deliver long-term growth and value creation for our shareholders.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Asda is launching a £50m store upgrade programme designed to enhance the shopping experience for customers in its larger supermarkets and superstores. The programme, which commences at the Long Eaton store in Nottingham, will extend across 170 stores in total and is expected to complete by the end of November. Asda announced that 50 of its larger stores will receive major upgrades, including the introduction of new in-store services and features. This will encompass brand-new George departments in select stores, as well as new foyers, seasonal aisles, food-to-go services, counters, and improved flooring and lighting. The remaining stores will undergo “refreshed exterior and interior decoration” to align with Asda’s recent brand identity launch, which includes an updated logo, typography, and colour palette. These stores will also benefit from new trolley bays, updated signage, improved toilet facilities, and exterior landscaping work. Over the coming months, upgrades will be carried out in Asda stores in Coventry, Altrincham, Dundee, and Charlton. The work will take place over a five-week period, with stores remaining open and “minimal disruption expected,” according to the retailer. Ian Brackenbury, Asda’s Senior Director of Construction and Implementation, commented: “We are always looking at ways in which we can improve the overall experience for our customers, and this programme is one of the many ways we are actively doing that. Starting with our supermarkets and superstores, this significant investment allows us to upgrade our stores by launching new and exciting services, whilst making significant improvements to the existing components of our established stores. This programme marks another exciting milestone moment for us on our journey and underpins our continued commitment to ensuring Asda is set up for long-term success.” The supermarket’s move to upgrade larger stores builds upon the significant investment made during its first quarter to convert all 470 convenience stores acquired from EG Group and the Co-op to Asda Express. This expansion has given Asda a total estate of more than 1,000 UK stores for the first time in its 59-year history. Since acquiring Asda in June 2021, the shareholders have invested more than £3.5bn to transform the business into a diversified retail group with a significant presence in the high-growth convenience and food service markets. Building, Design & Construction Magazine | The Choice of Industry Professionals
Shaftesbury Capital has reported “strong” retail and hospitality leasing demand across its London portfolio so far in 2024. From 1 January to 3 May 2024, the real estate investment trust (REIT) welcomed 23 new brands and concepts to its West End estate. Highlights from the REIT’s portfolio include the expansion of Charlotte Tilbury to a new flagship store, following the success of its James Street location. Seven Dials has seen the addition of athleisure brand Alo at the entrance of Neal Street, while British wellness brand ELEMIS will open its debut London store on Monmouth Street, joining recent openings Odd Muse and Missoma. Footwear brand Axel Arigato is currently fitting out its flagship store on Earlham Street, marking its second location in Shaftesbury Capital’s portfolio. Additionally, Greek boutique hotel ERGON House will open in a newly refurbished heritage-listed building, anchoring King Street next year. The REIT has also enhanced its Soho estate, introducing hospitality concepts The Counter and The Little Violet Door to Kingly Street, joining Two Floors. Carnaby Street has welcomed global lifestyle brand PANGAIA for its first UK standalone store, while SanHao will debut a new restaurant in Chinatown, offering hand-pulled noodles and soups. Since the merger of Shaftesbury and Capco, Shaftesbury Capital has completed £212.6 million in asset disposals, with £82.9 million reinvested in target acquisitions. Ian Hawksworth, chief executive of Shaftesbury Capital, said: “It’s been a positive start to the year. Our West End estates are busy and vibrant with high footfall, customer sales growth, and increasing levels of international tourism. There is continued strong leasing demand across all uses, with 147 transactions completed in the period, at rents on average 7 per cent ahead of December 2023 ERV and an excellent leasing pipeline, reflecting the appeal of our exceptional portfolio. “We have completed £213 million of asset sales since the merger, at a premium to valuation, reinvesting over £80 million in target acquisitions. Backed by our strong balance sheet and talented team, Shaftesbury Capital is well-positioned to deliver growth in line with our medium-term targets as the leading central London mixed-use REIT.” Building, Design & Construction Magazine | The Choice of Industry Professionals
In line with its strategy to focus on retail parks and reduce exposure to covered shopping centres, British Land has exchanged contracts for the sale of its 50% stake in Meadowhall Shopping Centre to its partner, Norges Bank Investment Management, for £360 million. Earlier this year, the joint venture also sold some ancillary land for £7 million (British Land’s share). Together, these deals value the entire Meadowhall estate at £734 million, which is 3% above its September 2023 book value. After accounting for net debt of approximately £200 million, the expected proceeds are around £156 million. The impact on FY25 NTA per share is projected to be negligible, with an estimated FY25 EPS dilution of 0.6p prior to reinvestment. The transaction would reduce HY24 proportionally consolidated LTV by 2.7 percentage points. As part of the agreement, British Land will continue to serve as the asset manager for Meadowhall Shopping Centre, earning fees in line with current terms. The transaction is anticipated to complete in July 2024, with the proceeds being utilised for general corporate purposes, including reinvestment into retail parks. Simon Carter, Chief Executive of British Land, said: “We have had a successful partnership with Norges over many years and are delighted to continue to work alongside them as asset managers of the centre. Following the sale of Meadowhall, 93% of our portfolio is now in our preferred segments of retail parks, campuses, and London urban logistics. We will continue to grow our retail park portfolio; with low capex requirements, parks offer attractive cash returns and at 99% occupancy, we are delivering strong rental growth.” Building, Design & Construction Magazine | The Choice of Industry Professionals
A principal contractor has been appointed to develop a new retail and trade park within Wynyard Business Park, anchored by a Sainsbury’s superstore. Hebburn-based Castle will lead the scheme, developed by Northumberland Estates, which includes 52,000 sq ft of retail space and a 45,000 sq ft trade park at the Stockton site. The development will feature seven units, including the 46,000 sq ft superstore, alongside a Starbucks, Howdens, Screwfix, and Doves. Additional key retailers are anticipated to take space at the site. The broader Wynyard Business Park is home to over 60 businesses, employing around 5,000 people. The Sainsbury’s store alone is expected to create 124 jobs. Construction is set to begin this month, with the site fully operational by June 2025. Castle, headquartered in Hebburn, also has offices in Glasgow, Edinburgh, and Teesside. The business has secured a turnover of £65m for 2024. Managing Director Andrew Dawson said: “After a successful tender process, we have been appointed as principal contractor to deliver the facilities at the new retail and trade park. “The project will involve our teams in everything from initial enabling works, statutory services, earthworks, groundworks, frame and envelope through to partial MEP services and external services, including associated roads and car parks.” Craig Muldoon, divisional director, build, at Castle, added that sustainability will play a significant role throughout the works. “There will be substantial renewable energy measures, including EV charging points and a Battery Energy Storage System (BESS) to store energy from solar panels and release it when needed.” Peter Dalby, development manager at Northumberland Estates, said: “We are delighted to have obtained planning permission for the first phase of the Wynyard Retail and Trade Park. This is a key development for Northumberland Estates, which will provide consumer choice and promote economic growth in the region. As we move into the construction phase, we look forward to working with Castle to deliver the project to a high specification.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Superdrug is set to open 25 new stores in 2024, as the health and beauty retailer celebrates 60 years on British high streets. The retailer aims to enhance its customers’ physical shopping experience by opening “bigger and better” stores. This strategy has already seen Superdrug double the size of its Craigavon store in Northern Ireland earlier this year to 5,800 sq ft, as well as extend the size of its Lakeside Thurrock branch to 7,669 sq ft. In addition, Superdrug will open some of its largest-ever stores throughout the year, with upcoming openings planned at St David’s in Cardiff, Bluewater Shopping Centre, and Westfield Stratford City. The Cardiff store will be upsizing to 13,000 sq ft, whilst the Westfield Stratford City store – opening this summer – will double in size to 9,892 sq ft. Besides opening new stores, Superdrug will be extending seven existing stores and retrofitting 60 over the course of the year. The retailer’s estate will be modernised through the introduction of new shop fronts, recyclable signage, improved floor and ceiling tiles, energy-efficient lighting, new floor layouts, and upgraded fascia and internal signage. Nigel Duxbury, Superdrug’s Property Director, said: “We’ve changed a lot in the 60 years since the first Superdrug store opened on Putney high street, but we remain as committed as ever to providing a seamless shopping experience for our customers, offering the very best in accessible health and beauty. This investment into bricks-and-mortar means we can grow our footprint in key locations and highlights our ongoing commitment to high streets and retail shopping destinations, which are an integral part of local communities and the economy. “2024 will see some of the largest ever Superdrug stores open their doors, which is something we are really excited about, as these larger retail units give us the space to be able to offer new and exciting services and even more of the latest health and beauty products.” Building, Design & Construction Magazine | The Choice of Industry Professionals
Asda has today unveiled plans for a transformational Mixed-Use Redevelopment of its ten-acre Park Royal site in North West London. The retailer has partnered with leading property Developer Barratt London on plans to redevelop the Brownfield site which is currently home to its Park Royal Superstore. The proposal, which is subject to planning approval, includes creating a new town centre for the local community, at the heart of the Old Oak and Park Royal Development Corporation major regeneration area. It will feature a brand-new 60,000 sq. ft flagship Asda Superstore and up to 400 car parking spaces for customers. In addition, up to c.1500 new homes are planned, c.500 of these will be provided as affordable. A large number of the apartments will utilise a landscaped podium above the new Asda. The majority of the homes will provide high quality dual aspect accommodation. Sustainability will be at the heart of this new site – with the scheme providing significant biodiversity and ecology net gains. The use of public transport will be encouraged at the proposed car free residential development, while the Asda car park will benefit from new EV parking spaces. This Mixed-Use Redevelopment of an established store site is a first for Asda and represents one of the largest land deals of the last couple of years. The plans would also enable complementary businesses associated with a new town centre to open new retail units, restaurants, health and wellness facilities, and high-quality public realm space. Plans would allow for Asda’s existing Park Royal Superstore to remain fully open and continue to serve the local community whilst work was carried out on the new store development. Ian Lawrence, Head of Mixed-Use Developments at Asda, said: “Asda’s venture into Mixed-Use Property re-development marks a significant milestone for the Business. By working with leading developers like Barratt London, we are able to maximise the full potential of our property portfolio for the first time.” “This allows us the opportunity to better serve local communities like Park Royal, with a new flagship store fit for the future, whilst creating windfall sites for Housing delivery. We are also unlocking further opportunities to release value from our extensive property portfolio, which can be reinvested back into the business to fund other initiatives and support our long-term growth ambition to become the UK’s second largest supermarket chain.” Work on the planning application for this ambitious redevelopment deal is already underway and will be submitted later this year to the relevant bodies. Craig Carson, Managing Director of Barratt West London, comments: “We are proud to be partnering with Asda on their first mixed-use development. At Barratt London, we have a strong track record in both rejuvenating brownfield sites and delivering new homes in the Borough of Ealing, so it’s a partnership and site that makes perfect sense for us. This transaction is a sign that there is still land to be unlocked in the capital and reflects one of the markets largest land transactions since 2019. The redevelopment of Park Royal will have a huge impact on the area, with the new town centre unlocking new commercial opportunities for local businesses and providing a new hub for the local community. While the proposed delivery of 1,500 new homes will play a vital part in the Old Oak and Park Royal regeneration plans and will help to unlock much needed new and affordable homes in Ealing.” Newsteer Real Estate, who have worked with other major retailers on similar redevelopment deals in the past, are acting as advisors to Asda throughout the process. Ross Bettridge, Director at Newsteer, said: “Retailers such as Asda at Park Royal provide great opportunities to utilise brownfield sites and deliver much needed housing for people living in the capital. At Newsteer, we are actively advising on similar opportunities with the potential to deliver c.12,000 homes. The key to unlocking these sites is about protecting and enhancing the retail offer while balancing the viability.” Asda recently announced it has now opened 479 Asda Express stores, as part of its rapid convenience expansion, enabling the retailer to reach the landmark of 1,000 UK sites for the first time in its 59-year history. The retailer is on track to have 500 Asda Express stores by the end of this year as new ‘standalone’ sites open throughout the UK as part of its ongoing growth ambition Building, Design & Construction Magazine | The Choice of Industry Professionals
The owners of Ocean Terminal have confirmed they have signed a deal which will bring a Tesco Express to the Leith waterfront development as part of multi-million pound plans to regenerate the site. The addition of the supermarket to the retail section of the redevelopment is expected to create up to 20 jobs as part of a major investment in Leith’s waterfront. The 4,700 sq ft ground floor unit will look out over a new public realm and future residential development. The announcement is the latest in a chain of positive developments on the site, including the relocation and upgrade of the 24/7 PureGym to a brand new unit earlier this month. Last year Ocean Terminal revealed it had agreed a long-term lease with Level X, the gaming and immersive entertainment provider, which will see a new purpose-built, state-of-the-art leisure venue open at the centre adjacent to a brand new Club 3000 Bingo venue which promises to be one of the best clubs ever developed in the UK, enhancing the leisure offering at the new look centre. Chris Richardson, Managing Director of Ambassador Investment Management, the Scottish owners of Ocean Terminal, said: “We are delighted to confirm a fifteen-year lease with Tesco which will bring significant benefits to the Leith waterfront development, cementing our commitment to ensure this project delivers for the local and wider community. “The addition of a new major retailer is a huge boost to the project and our longer term vision to to regenerate this waterfront area into a thriving, sustainable development creating an outward-looking, mixed-use town centre here in Leith. “We’re thrilled to have Tesco fully on board, which further enhances the multi-use, dynamic offering within the leisure space at the Ocean Terminal site.” Head of Campaigns for Tesco, Tony McElroy added: “We are excited to be opening a new Tesco Express in Ocean Terminal, as part of our ongoing investment and job creation plans across Edinburgh. We look forward to serving our customers and supporting local community groups through our Stronger Starts and Community Food Connection initiatives.” Building, Design & Construction Magazine | The Choice of Industry Professionals
