British Land has agreed four new leasing deals with Aldi for a total of 85,000 sq ft.
The discount supermarket is taking a 20,000 sq ft store at Crownpoint Shopping Park in Denton, Greater Manchester; a 20,000 sq ft store at Crown Wharf in Walsall, West Midlands; an expanded 21,000 sq ft store at Mostyn Champneys Shopping Park in Llandudno, Wales, doubling the size of its current store; and a 24,000 sq ft store, which is currently under construction at the Kingston Centre in Milton Keynes, Buckinghamshire.
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.”
Last year, British Land identified retail parks as an area for significant growth and has spent around £400m since to bring its retail park portfolio value to £1.7bn.
In the six months to November 2021, retail parks accounted for 60% of the 1m sq ft let by British Land.
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