Background
Challenge
Outcome
Colliers International was instructed in 2014 by Sainsbury’s and Dansk Supermarked Group in their joint venture to reintroduce the Netto discount food store brand back to the UK.
Netto are an established brand within Northern Europe, trading in Denmark, Germany, Poland and Sweden, and had previously operated in the UK before the business was acquired by Asda in 2010 and all stores were rebranded. The joint venture saw an opportunity to replicate the success of Aldi and Lidl.
Seeking sites to accommodate stores of around 11,000 sq ft and working alongside Netto’s Location, Planning, Property and Construction teams, the Colliers International Retail Development team were retained as property consultants.
Using market knowledge and extensive contact network, our remit was to identify suitable opportunities that included both existing buildings and development sites.
Netto opened 22 stores across the north of England between October 2014 and June 2016, including two new build units.
In July 2016, it was announced that Sainsbury’s and Dansk would bring to an end the Netto UK trial. Subsequently, Colliers International were instructed to dispose of all open stores and sites within the pipeline. Disposals of all stores and sites had been agreed by March 2017.
In November 2019, the agreement between Knowsley Council and St Modwen was completed. This secured the delivery of the new 90,000 sq ft development with the Council funding the costs and taking ownership of the completed scheme and the existing town centre assets.
The Colliers team was led throughout by their Head of Retail Development, Greg Styles, and they are now retained to lease the remainder of the new development for the Council, which will open in mid-2020.
Heart of Pierce County
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Greg Styles
50 George Street
London
W1U 7GA
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