British Land has agreed four new leasing deals with discount supermarket, Aldi, at its retail parks across the UK. Totalling c.85,000 sq ft of space, Aldi will 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
• A 24,000 sq ft store, which is currently under construction at Kingston Centre in Milton Keynes

Darren Richards, Head of Real Estate at British Land, said: “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.”

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.”

Last year, British Land identified a clear value opportunity in retail parks and has made c.£400m of acquisitions since, bringing its retail park portfolio value to £1.7bn (as at September 2021).

In the six months to November 2021, British Land completed more than 1 million square feet of retail leasing, with retail parks accounting for 60% of this activity.

ENDS

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About British Land

Our portfolio of high quality UK commercial property is focused on London Campuses and Retail & Fulfilment assets throughout the UK. We own or manage a portfolio valued at £13.3bn (British Land share: £9.8bn) as at 30 September 2021 making us one of Europe’s largest listed real estate investment companies.

We create Places People Prefer, delivering the best, most sustainable places for our customers and communities. Our strategy is to leverage our best in class platform and proven expertise in development, repositioning and active management, investing behind two key themes: Campuses and Retail & Fulfilment.

Our three Campuses at Broadgate, Paddington Central and Regent’s Place are dynamic neighbourhoods, attracting growth customers and sectors, and offering some of the best connected, highest quality and most sustainable space in London. We are delivering our fourth Campus at Canada Water, where we have planning consent to deliver 5m sq ft of residential, commercial, retail and community space over 53 acres. Our Campuses account for 70% of our portfolio.

Retail & Fulfilment accounts for 30% of the portfolio and is focused on retail parks which are aligned to the growth of convenience, online and last mile fulfilment. We are complementing this with urban logistics primarily in London, focused on development-led opportunities.

Sustainability is embedded throughout our business. In 2020, we set out our sustainability strategy which focuses on two time-critical areas where British Land can create the most benefit: making our whole portfolio net zero carbon by 2030, and partnering to grow social value and wellbeing in the communities where we operate.

Further details can be found on the British Land website at www.britishland.com

About Aldi

Aldi is Britain’s fifth largest supermarket with over 950 stores and around 38,000 colleagues.

Aldi is attracting hundreds of thousands of new customers every year with its range of exclusive brands, passing low operating costs on to customers in the form of low prices.

The supermarket believes in making every day amazing and that’s why every single day Aldi delivers on the best possible value for millions of families throughout the UK and Ireland across everything from award-winning fresh produce to world class gin.

Aldi won’t be beaten on price; consistently racks up award after award for quality; treats its suppliers with fairness and respect and recognises the responsibility of supporting valued institutions such as Team GB to demonstrate the importance of health and wellness.

Aldi makes the everyday amazing. But amazing doesn’t happen overnight so that’s why Aldi is making changes to be better every single day, to be Fairer, Greener and Healthier for customers, society and the environment.

That’s Aldi. That’s everyday amazing. The reason they do this? Because Aldi believes that everyone should have access to fresh, healthy, affordable food…it’s a right, not a privilege.

The company’s current achievements and initiatives include:

• Aldi has been named as the UK’s Cheapest Supermarket for 2021 by consumer champion, Which?.

• According to The Grocer magazine, Aldi is the UK’s lowest-priced supermarket. A basket of 33 everyday items at the Big 4 supermarkets is on average 18% more expensive than at Aldi (19/11/21).

• Research released by Which? in December showed that for a basket of 22 essential items throughout November, Sainsbury’s was 20% more expensive than the same shop at Aldi. The same shop was also 17% more expensive at Tesco. The same shop at the Big Four was 14% more expensive.

• Aldi has a ten-year partnership with Teenage Cancer Trust – Aldi recently achieved its fundraising milestone of £6m ahead of its five-year target, which will go towards helping the trust to reach out to every young person with cancer in the UK. Aldi has also now committed to extending the TCT partnership for a further five years with a commitment to donate an additional £5m over this period.

• Aldi’s rates of pay are significantly higher than the Government’s National Living Wage and also above the Living Wage Foundation’s recommended national rates. Store Assistants receive a minimum hourly rate of £10.10 nationally and £11.55 within the M25. 

• Aldi is the official supermarket partner of Team GB and ensures every member of the team has access to fresh healthy Aldi food via monthly shopping vouchers, with two million 5-14-year-olds already learning about the benefits of cooking fresh, healthy food via its Get Set to Eat Fresh education initiative. Aldi has been a partner since 2015 and has extended its commitment to 2025, including the 2022 Winter Olympic games in Beijing and 2024 Summer Olympic games in Paris.

• Aldi has announced plans to increase the amount of food and drink it buys from British suppliers by £3.5bn a year by the end of 2025 as it continues its rapid expansion across the UK.

• Aldi donated 10 million meals to families in need in 2021 to help combat hunger’s devastating effects, as it continues to fight against child food poverty as no child should ever go hungry.

• Aldi is proud to accept Free School Meal vouchers in its stores for the purchase of food and groceries.

• Aldi was ranked the best-performing supermarket for compliance with the Groceries Supply Code of Practice for seven consecutive years, underlining its commitment to maintaining fair, predictable and sustainable prices within its supply chain.

• Aldi was voted Britain’s Favourite Supermarket and Wine Retailer of the Year for the third consecutive time by readers of Good Housekeeping magazine, while its Specially Selected range was voted Favourite Premium Supermarket Range for the second year running.

Full details of Aldi’s awards and achievements are detailed at www.aldi.co.uk/awards