Lidl GB has announced that it has completed the two-stage extension of its Belvedere warehouse site in London, investing £285m across two buildings. A further major development is now underway in Leeds.
The first phase of the Belvedere investment, which involved the construction of a new, second warehouse, equated to £160m. The second stage demolished the original building to make way for a state-of-the-art warehouse, which tripled capacity.
The discounter now operates 800,000 sq. ft. of warehouse space at Belvedere, a 167% increase in its footprint since first opening at the site in 2003. Once fully operational, the site will serve 120 Lidl stores across the region.
Meanwhile, last month, Lidl began construction of a £150m warehouse at its 38-acre site in Gildersome, Leeds. It is also searching for new warehouses in the south of England.
The company noted that the investment was part of its drive to scale up and strengthen its infrastructure to support its store network across the UK, which is nearing 1,000 sites.
“We’re proud to play our role in driving economic growth, while continuing to establish an infrastructure that delivers sustainable growth for our ambitious expansion plans,” said Richard Taylor, Chief Real Estate Officer at Lidl GB.
“But these investments are not just about logistics. The updates today also represent an investment in our mission to make good food accessible to households across the country.”
NAM Implications:
- Lidl continues to invest in its future.
- (Are you equally confident re Lidl UK potential?)
- Meanwhile, ‘making good food accessible to households across the country’…
- …will be at the expense of some rivals.
