Coffee chain agrees deal for 14 new out-of-town sites
Costa Coffee, represented by international real estate advisor Savills, has agreed deals for 14 new out-of-town sites across various locations throughout England, Scotland and Wales in the first six months of 2019.
Costa Coffee will open 10 new drive-thru locations including stores at Cribbs Causeway in Bristol, Speke Boulevard in Liverpool, Hermiston Gait Retail Park in Edinburgh, Tower Retail Park in Poole and Gallagher Retail Park in Caerphilly. These locations will contribute to the wider plans to roll-out additional stores across the estate.
In addition, the coffee chain has also agreed to take four new drive to sites, including outlets in Salford, Bridgwater and Liskeard, taking leases of between 10 and 15 years on each of the units which are all between 1,800 sq ft and 2,200 sq ft in size.
James Hamilton, aquisition & estates director Costa UK & Ireland, said: “We are excited to be working alongside Savills, using their expertise to expand on our existing portfolio of new store acquisitions. We’ve been able to open an impressive number of new equity stores in the first half of the year and are working to maintain this success going forward.”
Charlie Greenhalgh, out of town retail director at Savills, comments: “Both Costa Coffee’s drive thru and drive to formats continue to be a success throughout the UK and we’re pleased to be supporting the brand’s ongoing expansion plans in key retail and roadside destinations.”
Savills continues to work with Costa Coffee to acquire stores as the retailer expands its portfolio in the UK.