UK: Safeway hooks up in property JV to unlock 'tens of millions of pounds'
Safeway, the UK's fourth largest supermarket group, has created a joint venture with a private property group to explore how it might best exploit the potential of its 480 stores and land surrounding them. Safeway has hooked up with London & Regional, operated by brothers Ian and Richard Livingstone, to investigate ways of drawing maximum value from its property portfolio, currently valued at some £3bn (US$4.39bn). Selective developments at certain stores could include building above parking space, or on top of stores, this space then being let out as office facilities.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Interview: Sir Kensington's on sale to Unilever
- Analysis: Post discusses rationale for Weetabix
- Who will buy Danone's Stonyfield business?
- Interview: "Disruptive" snack brand Hippeas
- Column: Why snacking is the new meal
- Unilever buys US condiments maker Sir Kensington's
- Ice cream helps Unilever sales, food flat
- Nestle organic growth slows but beats expectations
- Suntory to offload Australia, New Zealand foods
- Dairy dampens Danone in Q1