Cooke & Arkwright’s Retail & Leisure team continue to work alongside Greggs plc in its shop acquisitions across South Wales. Ten new sites were secured in 2019, six new shops have opened in the first six months of 2020, with another six new stores scheduled to open between now and the end of December.
Whilst all Greggs shops across the UK closed during the Covid 19 lock down, which impacted sales, Greggs are nevertheless proceeding with the various pipeline projects for new openings for the remainder of 2020 and into 2021.
One of the more recent new units which has opened is a 2,000 sq ft unit on the Pant Industrial Estate in Merthyr Tydfil, whilst other new shops which have opened recently or are scheduled to open imminently include Pinewood Court on St David’s Industrial Estate in Pengam, Blackwood; Penarth Road Retail Park, Cardiff; Western Avenue Retail Park, Cardiff; a new roadside unit on Cardiff Road in Barry; and a new unit specifically built for Greggs on Llantarnam Business Park, Cwmbran.
Huw Thomas, Director of Retail & Leisure at Cooke & Arkwright said, “Greggs continue to be committed to acquiring new units across different parts of Wales despite the significant challenges of the Covid 19 pandemic. In addition to the six new openings scheduled for between now and December, we are aiming to exchange on seven new sites to be handed over either in 2021 or 2022, once the units have been constructed.
“The unit at Pant Industrial Estate, Merthyr and the recent new openings at Pengam, Penarth Road Retail Park, Western Avenue Retail Park in Cardiff and the new pod on Llantarnam Business Park, are all excellent examples of the different type of locations which Greggs are considering in order to broaden their market over the next 12 months.”
Stuart Hogg of Stuart Hogg Property Consultants who represented the landlord in the Pant Industrial Estate, Merthyr letting commented, “The arrival of Greggs in this location will improve the facilities for the many local businesses and also corporate occupiers who are represented here. Pant Industrial Estate has always been a popular and successful location and I am sure this will be a busy outlet for Greggs. Our client was pleased to secure a strong business as a tenant.”
Cooke & Arkwright’s Building Surveying department conducted the pre-acquisition survey at Pant Industrial Estate on behalf of Greggs.
Greggs has continued to diversify its portfolio in locations well beyond high streets and Shopping Centres. These include, in addition to the industrial estate and trade counter locations described above, retail parks, business parks and transport hubs, as well as travel, convenience and prominent roadside locations.
The bakery invests heavily in acquiring, refurbishing and fitting out new units in its carefully selected sites. Overall capital expenditure in new Welsh stores amounted to almost £2m in 2019 and created around 100 new jobs.
Cooke & Arkwright have been acting agents for Greggs for over 25 years.