Aldi signs for 85,000 square feet of space at British Land retail parks
British Land has agreed leasing deals with the Aldi supermarket chain for four retail park sites.
With the total space spanning around 85,000 square feet, Aldi will open 20,000 square foot shops at at Crown Wharf in Walsall and the Crownpoint Shopping Park in Denton.
Subscribe to TRBIn addition, the supermarket will launch a 24,000 square foot store at Kingston Centre in Milton Keynes and a 21,000 square foot expanded shop at Mostyn Champneys Shopping Park in Llandudno, which will be double the size of its current store.
George Brown, national property director at Aldi, said: “Our store openings help to bring Aldi’s award-winning quality and unbeatable value to even more people across the UK, and we are delighted to be able to welcome more shoppers through our doors in these excellent new locations.”
After identifying a value opportunity in retail parks last year, British Land has since made circa £400 million worth of acquisitions to bring its retail park portfolio value to £1.7 billion.
Darren Richards, head of real estate at British Land, said: “This string of deals highlights the continued confidence in retail parks, which are an increasingly preferred format for our customers. The sector has attractive long-term fundamentals driving increased occupier demand, including low operational cost for retailers combined with excellent accessibility.”
