Tesco Stores Plc has acquired a 3.59 acre site in Saltash, Cornwall for a foodstore which could create up to 225 new jobs.
The 35,521 sq ft store, located on the site of the former Sanford Suzuki showroom on Saltash Industrial Estate, is scheduled to open in 2015. The deal was completed by DTZ which advised a private landowner on the purchase for an undisclosed price.
Spencer Wilson, Director, Retail Agency at DTZ, commented: “Whilst there is much market rumour about the slowdown in the food retail sector, this acquisition demonstrates that there is still good demand from the big four supermarkets for well located sites.
He continued: “Changing trends in shopping patterns due to the rise of online shopping has resulted in operators changing the range of store sizes that they will consider. Consumers are increasingly moving away from one, big weekly trolley shop and instead are opting for frequent smaller shopping trips, leading to demand for smaller, accessible food stores, such as the Tesco site in Saltash.”
