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Co-op buys four Waitrose stores

The Co-op has agreed to buy four Waitrose convenience stores in Manchester, Birmingham and London. Contracts have been exchanged for the Co-op to purchase Little Waitrose… View Article

FOOD & DRINK

Co-op buys four Waitrose stores

The Co-op has agreed to buy four Waitrose convenience stores in Manchester, Birmingham and London.

Contracts have been exchanged for the Co-op to purchase Little Waitrose convenience shops in two city centre locations in Manchester, one in Colmore Row in Birmingham, and one in Portman Square in central London.

The sale is expected to be completed in the autumn.

The news follows today’s announcement by the John Lewis Partnership that it had decided to sell four Waitrose convenience stores and one supermarket as it looks to create more value from its property estate.

Commenting on the acquisition, Stuart Hookins, Co-op director of property portfolio and development, said: “We are pleased to have worked with Waitrose to agree the purchase of four of its convenience stores. Our acquisition and refit programme forms a fundamental part of our food strategy. Our aim is for stores to be at the heart of local life, creating stronger communities and offering great quality products conveniently, when and where our members and customers need them.”

Earlier this year, the Co-op said it would be opening around 100 new food stores in 2018 after seeing four consecutive years of like-for-like sales growth in its core convenience business.

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