'M Local' to give shot in the arm
THE BUSINESS DESK.com
20 April 2011
By Ian Briggs - Deputy Editor, Yorkshire
SUPERMARKET chain Morrisons' announcement that it is to make its first foray into the convenience store arena has certainly caused a stir.
The Bradford-based group's debut 'M Local' store will be located in Ilkley, West Yorkshire, and is expected to be the first of three trial stores under the banner.
Among the hullabaloo caused by the announcement of the format, which is set to take on Tesco Express and M&S Simply Food, the Yorkshire players in the deal have been largely forgotten.
So let's put that right here.
Tim Cross, partner and head of the real estate unit at York-based law firm Langleys, acted for Candelisa Developments in the letting of the premises.
Adam Mobley and Carl Smith of WSB Property Consultants in Leeds acted as the agent for developer Candelisa.
Mr Cross said: It is a credit to the teams involved that we were able to provide the support needed in the time available to ensure that the deadlines were met.”
Mr Smith said: “It’s great working with a developer like Candelisa who can react quickly to good opportunities. To secure a tenant like Wm Morrison’s shows that even in difficult market conditions, there are deals to be done”.
Mr Mobley added: “Morrisons' move into smaller stores demonstrates that convenience shopping is still a growing market.”
In the general scheme of things, M Local, which is expected to open in July, may be flash in the pan. But as the Ilkley deal shows, the format could give a shot in the arm to the property community if it takes off.
