Major supermarket retailer Waitrose has appointed King Sturge as its preferred property agent for the northern region in the roll-out of its new convenience store format. The appointment covers all site identification and property acquisitions from the M4 up to the Scottish borders.

Waitrose is seeking to open at least 10 new stores in the northern region in 2011 and it is anticipated that the first convenience stores will open in this area early next year. It is also looking to open a similar number in both London and across the south. Its ultimate aim is to open 300 convenience stores in the next 10 years.

Suburban, town and city centre sites and transport hubs are being sought for the new format stores of between 3,000 ft² and 7,000 ft² sales (4,000 ft² to 10,000 ft² gross). Waitrose will consider both leasehold and freehold properties and will investigate existing/converted buildings, existing businesses, new developments including former pubs and petrol filling station sites, and mixed-use developments.

Waitrose has so far opened five successful convenience stores of 5,000-7,000 ft² and last month (June) opened its first trial smaller format convenience store in Cambridge, one of four initial trials of the smaller format of 2,000 ft² to 4,000 ft². The announcement of property agents for each of its three target regions marks the next phase of its drive to broaden its geographical customer base through the convenience format. Waitrose has identified 6.5m customers who are currently unable to easily access one of its stores.
 
Jonathan Newns, Head of In-Town Retail at King Sturge’s Leeds office, will work closely with fellow retail partners Tom Keys-Toyer (Bristol) and Paul Faulkner (London) in servicing the instruction. This will be complemented by dedicated catchment/demographic profiling by King Sturge’s in-house retail analyst Stephen Springham.

Jonathan comments: “Waitrose’s move into smaller stores demonstrates that convenience shopping is a growing market. Today’s busy lifestyles mean that customers want choice and access to food shopping on their doorstep. The convenience stores that open in the north will deliver access to a wider choice of quality products which is good news for shoppers.

“From a property perspective, the smaller format store should be easier to accommodate as it allows for greater flexibility in the size of retail unit and location, and should encounter fewer potential planning hurdles.”
 
Research based on shopping patterns at Waitrose’s existing convenience stores show that customers generally use them to buy everything they need for the next 24 hours. The new stores will therefore focus on three key areas: freshly-baked bread, sandwiches, salads, deli products and individually-wrapped cakes; quick meals, fresh meat and fish; and everyday household items such as health and beauty goods, cleaning products and cards and gift wrapping.

For further information please contact:

Jonathan Newns, Retail Partner, King Sturge, +44 (0)113 235 5271
Dee Cornes, PR Consultant for King Sturge retail team, +44 (0) 7760 415527