Deathwatch: Massive supermarkets

5 August 2014

poll-sweets-supermarket-390x285 Supermarkets are scaling back from building massive hangar-like retail solutions centres.

Only 15.2 million sq ft of new shopping space was proposed by retailers, rather than the 18 million sq ft four years ago, when colossal outta town stores were seen as the future.

However, since facing a ramming at the tills from the likes of Lidl and Aldi, the big four supermarkets are less inclined to carry on building giant sheds

The figures from property agent CBRE also show the amount of new shopping space with planning permission and under construction fell 30% on the year to 2.5 million sq ft, with retailers scaling down their sites to meet changing customer habits.

CBRE retail director Christopher Keen said of this: "The reason for the shift to smaller stores is in part a response to changing consumer shopping patterns, but also because they are lower capital expenditure to deliver, have less impact on the trade of existing stores and are easier to secure planning permission for."

Even if it looks as though supermarkets are no longer keen on massive new stores, there is still 30 million sq ft of space allocated and with permission to become shops.

Tesco said last month that it was going to build up to 4,000 homes on the land it had its eye on, after being nagged at for hoarding land for the sake of it.

It's a shame for the land gobbling behemoths of retail, eh?

TOPICS:   Supermarket

3 comments

  • jim
    so are they going to build Value Homes or Tesco Finest homes?
  • Bastard L.
    Interesting breach of Andreas Gursky's photographic copyright there.
  • Peter T.
    Think of the Clubcard points you'd get for buying a Tesco house.

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