Frozen food retailer Farm Foods is opening a store at Wavertree Retail Park with park owner Derwent also securing a lease extension with current retail tenant, Iceland. Tony McDonough reports
Frozen food retailer Farmfoods is to open a new store in Liverpool early in 2021.
Farmfoods has signed a 10-year lease on the former Poundstretcher unit at Wavertree Retail Park. Park owner Derwent group has also secured a 10-year extension from another frozen food retailer, Iceland, on its 8,500 sq ft unit.
A Scottish family business, Farmfoods has been trading for more than 60 years and operates more than 300 stores and four distribution centres across the UK. As well as frozen food, it sells groceries such as bread, milk, fruit and vegetables as well as household items. Its new outlet will open in the first quarter of 2021.
Now fully-let, the 105,000 sq ft retail park is also home to Buzz Bingo, Matalan and Home Bargains. Iceland has been a tenant at the park for 25 years.
James Maule-Finch, senior asset manager for The Derwent Group, said: “Wavertree Retail Park serves a large local catchment and parking is plentiful so it’s an optimum location for two food retailers. This is the first time we’ve welcomed Farm Foods to one of our parks and they complement the existing tenant mix well.”
CSP acted for the Derwent Group and PWM Property acted for Farm Foods.
Wavertree Retail Park is owned by The Derwent Group which is part of the Albert Gubay Charitable Foundation and operates across the retail, leisure, industrial and commercial sectors.
The group has a commercial property portfolio of 3m sq. ft, including 2.1m sq ft of retail and leisure space. Through The Albert Gubay Charitable Foundation, The Derwent Group generates grants to charitable causes in excess of £10m a year.