21st Co-op convenience store opens
NewRiver has completed its 21st convenience store development for the Co-operative at Shavington, Cheshire. The new c-store was built on surplus land adjacent to The Vine pub, which was acquired by NewRiver in 2013 as part of a portfolio of 202 Marston’s pubs.
NewRiver’s c-store development programme for the Co-op began in 2015. Alongside rental income, the agreement includes performance receipts linked to c-store delivery, with the first receipt triggered by the delivery of the 15th c-store in January 2018. In addition to the 21 c-stores delivered to date across the portfolio, NewRiver is now on site with a further four.
Stuart Hookins, The Co-op’s director of portfolio and development, said: “As the Co-op’s largest single developer of c-stores, NewRiver is a trusted partner with whom we work closely in communities throughout the UK and we look forward to delivering many more stores with them as we continue to grow our portfolio of convenience stores.”