Aldi secures Chester store expansion

Chester-based District Estates has completed the letting of the former G4S cash handling facility on Bumpers Lane to Aldi to facilitate the expansion of the retailer’s existing store.

Aldi will demolish the existing buildings on site and create a new car park before work starts on its store expansion in the new year.

Speaking about the deal, District Estates’ investment director Ian Davies said: “Completing the long term letting of our Bumpers Lane site has allowed Aldi to grow their business without the need for outright relocation and reinforces our original decision to acquire the asset in 2008.”

Legat Owen advised District Estates on the original purchase of the long-leasehold investment, the subsequent acquisition of the freehold interest and the recent letting to Aldi.

Director Stephen Wade added: “We were aware of Aldi’s desire to drive store expansions and that the previous tenant’s lease was close to expiry, so it was a logical step to promote the idea to Aldi.

“Once they reviewed the potential opportunity Aldi moved quickly to secure the site and obtain the necessary planning approval.

“District Estates have again demonstrated their ability to add significant asset value through strategic management of their portfolio.”

Lamb and Swift advised Aldi on the deal.

The site was let for an undisclosed sum.