SAINSBURY’S LAUNCHES NEW FORMAT IN OLNEY
Sainsbury’s has opened a new smaller store format of 17,500 sq ft in the Buckinghamshire town of Olney, which it hopes to roll out across the UK.
The sales area totals 10,000 sq ft and includes an Argos kiosk. It is also the first Sainsbury’s to feature a full RIHC (Refrigeration Integrated Heating and Cooling) system, which is more energy efficient.
Located in Lavendon Road, the store has 100 car parking spaces and was developed in conjunction with Angle Properties.
Sainsbury’s has taken a new lease at £17 per sq ft and the completed investment was sold to Knight Frank Investors at a keen initial yield of just 4%.
HRH Retail advised Sainsbury’s on the leasing deal.