Sainsbury’s opens first stores from acquired Homebase portfolio
Sainsbury’s has opened its first stores within a portfolio of 14 units it acquired from Homebase over the past 12 months.
The supermarket retailer’s new stores – located in Lowestoft and Cromer in East Anglia – form part of its continued expansion in partnership with Rapleys, which advised Sainsbury’s on the portfolio acquisition.
The new stores are 25,000 sq ft and 30,000 sq ft at Lowestoft and Cromer, respectively. Both feature a full grocery offer along with an in-store Argos.
Dan Kent, head of retail at Rapleys, said: “Sainsbury’s is delivering on its growth targets, completing the largest retail transactions in the last 12 months with its acquisition of 14 of ex-Homebase units which they are now bringing to fruition following fit out. These two stores in East Anglia are the first two of the portfolio to open, with more to follow.”
Rapleys has been growing its retail team with the addition of a team of six from Avison Young earlier this year, and has won work with Boots, Australian fitness brand BFT, Stansted Airport, and The University of Sheffield.