Ambitious move comes as retailer looks to ‘consolidate position as number one in the competitive convenience market’
The Co-operative is to open 54 shops on pub sites over the next 2 years as it looks to step up expansion of its 2,000-strong convenience store estate.
Most of the new stores will be built on car parks and other land next to the actual pubs, with the rest coming from converted pubs.
The move will help the retailer grow its estate by 150 in each of the next five years, and involves around a quarter of the 202 pub sites that retail property group New River bought from brewer Marston’s in November for £90 million.
Most of the sites are located in central, eastern and northern England, and the first shop is set to open its doors early next year.
Each store will be between 3,000 sq ft and 4,500 sq ft, with almost 200,000 sq ft of new retail space set to be developed in total.
Steve Murrells, chief executive of The Co-op’s retail division, said: “Our focus is on convenience stores and a move away from larger stores, as we look to highlight our strengths and consolidate our position as number one in the competitive convenience market.”