Aldi to spend £84m over the next year on new-build stores
Published: 12 November 2014
Figures released today reveal that the rapidly-growing discount retailer is investing more than £109m in total over the next 12 months, constructing 33 new-build stores and a distribution centre.
The data from Barbour ABI revealed that Aldi will start construction on 33 new stores within the next 12 months, 16 of which already have planning permission. This will take Aldi's investment to over £84 million, alongside a £25 million distribution centre in Cardiff, which begins construction in the second quarter of 2015 and will create an estimated 400 jobs alone.
This coincides with a £62 million investment for 31 new stores that have already begun construction so far in 2014. The news is on the back of Aldi's announcement on Monday that they intend to create 35,000 jobs and have 1000 stores open in the UK by 2022.
Barbour ABI lead economist Michael Dall said of the news: "Aldi will see the UK as a major overseas target for expansion after steadily increasing their market share over the last few years, enticing customers from the traditional "Big Four" supermarkets with their budget price products. Over the next six to 12 months I expect even more construction projects from Aldi will begin if they are to stay on track with their 1,000 store target by 2022. Aldi's investment is an indication of the continuing change within the supermarket industry in the UK. "