Aldi partners with British Land to open four new stores

Aldi has agreed four new leasing deals with property and investment company British land, totalling 85,000 sq ft of space.

Last year, British Land identified a “clear” value opportunity in retail parks and has made £400m of acquisitions since, bringing its retail park portfolio value to £1.7bn.

Aldi said it now partners with the firm to open a 20,000 sq ft store at Crownpoint Shopping Park in Denton, a 20,000 sq ft store at Crown Wharf in Walsall, an expanded 21,000 sq ft store at Mostyn Champneys Shopping Park in Llandudno, doubling the size of its current store, and a 24,000 sq ft store, which is currently under construction at Kingston Centre in Milton Keynes.

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.”

Darren Richards, head of Real Estate at British Land, added: “We’re delighted that Aldi has chosen to expand with us across multiple locations. 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.”