Co-operative Food opens 83rd new store of 2012
The Co-operative Food is opening its 83rd new store of 2012 today as part of a long-term strategy to expand and invest in its food store estate.
The business, which has completed two major acquisitions this year, has launched 15 stores across the country this month, with eight stores opening in one day. The new store in Tangmere, West Sussex, has launched today following a £1.8 million investment.
The openings are part of one of the largest acquisition and development programmes The Co-operative has undertaken since it purchased Somerfield in 2009. The group acquired 10 Costcutter stores in London last month, and in April purchased Scottish convenience retailer David Sands and its 28 stores in Scotland.
All the David Sands stores have now been rebranded, following a £7 million investment programme to convert them into Co-operative Food outlets. The former Costcutter stores have also been rebranded and will undergo a full refit in 2013, following an investment of £3 million.
Never Miss a Retail Update!In addition, The Co-operative has completed several major extension projects this year, including a scheme to double the size of its Alsager store in Cheshire, as well as a£3 million transformation of its Sandwich store in Kent and a £2 million scheme in Wherrytown, Cornwall.
Stuart Hookins, head of portfolio strategy and acquisitions, said: “Our new store development strategy was ambitious this year, but we have managed to deliver more than 80 new stores in a challenging climate.
“We are focused on the convenience sector and we are committed to reviewing and investing in our store estate and seeking new opportunities at the heart of local communities right across the UK. The race for space in convenience is moving up a gear and as one of the largest and most successful convenience store operators, The Co-operative is continuing to target, and invest in, this sector.”
The Co-operative Food’s acquisitions team, which has doubled in size over the last 18 months, is focusing on properties between 2,000 sq ft and 4,000 sq ft, on both a leasehold and freehold basis, in high street and local community locations across the UK.
In 2012 The Co-operative has also launched several flagship stores in key locations for the retailer including the Royal College of Art in Battersea and in Sauchiehall Street in Glasgow.
