Value supermarket chain Aldi will spend £109m over the next 12 months on new build construction.
On the back of a visit to Aldi’s head office by Prime Minister David Cameron earlier this week, figures released yesterday revealed that the rapidly growing retailer is investing a considerable amount over the next year in the construction of new build stores and in the development of a state-of-the-art distribution centre.
Date from Barbour ABI highlights that 33 new stores should start construction within the next 12 months, 16 of which already have planning permission. This will take Aldi’s investment to over £84m, alongside a £25m distribution centre in Cardiff which begins construction in the second quarter of 2015 and will create an estimated 400 jobs alone. This coincides with a £62m investment for 31 new stores that are already underway.
On the findings of the data, Michael Dall, lead economist at Barbour ABI commented: “Aldi will see the UK as a major overseas target for expansion after steadily increasing their market share over the last few years, enticing customers from the traditional ‘Big Four’ supermarkets with their budget price products. Over the next six to twelve months, I expect even more construction projects from Aldi will begin if they are to stay on track with their 1,000 store target by 2022. Aldi’s investment is an indication of the continuing change within the supermarket industry in the UK.”