Netto's unit at Thorne Road Retail Park AVAILABLE TO LET

Netto Thorne Road Retail Park available to let, lease, assignment, TJ Hughes

August 2016

Netto's unit at Thorne Road Retail Park AVAILABLE TO LET

UK supermarket chain Sainsbury's closed its Netto stores after abandoning a joint venture with Dansk Supermarked Group. The store in Thorne Road Retail Park has ceased trading at the end of July. Sainsbury's and its partner in the venture said the trial was ended because Netto needed rapid expansion and investment.

Mike Coupe, chief executive of Sainsbury's, said: "To be successful over the long-term, Netto would need to grow at pace and scale, requiring significant investment and the rapid expansion of the store estate in a challenging property market. Consequently, we have made the difficult decision not to pursue the opportunity further and instead focus on our core business and on the opportunities we will have following our proposed acquisition of Home Retail Group," he added

Sainsbury's teamed up with Danish retailer Dansk Supermarked Group (DSG) in 2014 to bring Netto back to the UK. The supermarket chain said although Netto was trading in line with expectations it could not ignore the evolving food retail market and the long-term strategies of both itself and its partner, DSG. It said its decision to end the trial was also based on trading data, customer insights and expansion costs.

Unit 3A (10,710sqft) benefits from A1 planning consent and is avalailable to let.

For further information please consult the brochure or contact our agents or us.

 

Contact

Perland Properties Ltd

2nd Floor

87-89 Baker Street

London, W1U 6RJ

 

Tel:0207 935 2555

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