British Land signs 7,897 sq m of new Aldi space across its retail parks

The following openings are planned: 

• A 1,858 sq m store at Crownpoint Shopping Park in Denton
• A 1,858 sq m store at Crown Wharf in Walsall
• An expanded 1,950 sq m store at Mostyn Champneys Shopping Park in Llandudno, doubling the size of its current store 
• A 2,229 sq m store, which is currently under construction at Kingston Center in Milton Keynes

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.”

George Brown, National Property Director at Aldi, said: “We are delighted to be able to welcome more shoppers through our doors in these excellent new locations.”

Last year, British Land identified a clear value opportunity in retail parks and has made c. € 474.9 million of acquisitions since, bringing its retail park portfolio value to over € 2 billion (as of September 2021). In the six months to November 2021, British Land completed more than 92,900 sq m of retail leasing, with retail parks accounting for 60% of this activity.