There is a growing trend throughout the grocery store sector to build on top of existing stores to deliver new homes. Property Week recently reported on the concept stating that “numerous retailers have explored the potential of doing air rights developments”.
Richard Curry, partner in Rapleys’ retail & lesire group, was quoted in the article stating that is not just the grocery sector but also retail stores and retail parks which could benefit.
“There is an avenue to be looked at here,” he says. “And I don’t think the DIY retailers are going to be as affected by loss of trade as some of the grocers, who are potentially losing out on customers doing their weekly food shop [while building works take place].”
Read the full article in Property Week here.