Co-op agrees to buy four Waitrose stores

27 June 2018

The Co-op has exchanged contracts for the purchase of four convenience stores from Waitrose, it has been confirmed today (Wednesday, 27 June).

An offer has been accepted for Co-op to purchase Little Waitrose convenience stores in key city centre locations in Manchester (the approach to Piccadilly railway station and, also in Spinningfields), in Colmore Row in Birmingham and, Portman Square, London.

The details and the arrangement of the agreement are not yet finalised, but the expectation is that the sale of the stores will complete in the autumn.

Stuart Hookins, Co-op Director of Property Portfolio and Development, said: “We are pleased to have worked with Waitrose to agree the purchase of four of its convenience stores. Our acquisition and refit programme forms a fundamental part of our food strategy. Our aim is for stores to be at the heart of local life, creating stronger communities and offering great quality products conveniently, when and where our members and customers need them.”

Earlier this year, the Co-op announced plans to open around 100 new food stores in 2018, and has seen four consecutive years of like for like sales growth in its core convenience business. The Co-op has attracted 1.6M new Members since it launched its new Membership scheme and rejuvenated brand in September 2016, it has 4.6M active Members UK-wide. Members of the Co-op receive a 5% reward when buying own brand products and services, with the retailer donating a further 1% to causes locally who make a difference in the community and contribute to improving local life.

Waitrose has agreed to sell the following four Little Waitrose shops to the Co-op:
• Spinningfields, Manchester (3,100 sq ft)
• Manchester Piccadilly (3,000 sq ft)
• Colmore Row, Birmingham (3,000 sq ft)
• Portman Square, Baker Street, London (2,800 sq ft)

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Further information
Andrew Torr
Co-op Press Office
M: 07702 505 551
E: andrew.torr@coop.co.uk