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UK Grocery Real Estate Review 2021


In 2020, the exceptional trading levels for UK supermarkets generated by the pandemic were reflected in the transactional volumes and popularity of grocery-backed property assets.

It was also a year when the operators had to fully engage with online selling as millions of people switched to home delivery.

In this report, we’ll look at the macro trends shaping the sector and analyse what that has meant for its property market.

Also included:

  • Did the pandemic help major grocery chains to profitably embrace online shopping?
  • Return of the weekly big shop?
  • Value-focus could return following vaccine roll-out
  • Investment market: Transactional revenues in the UK grocery real estate sector; net initial yields for prime assets
  • Occupier market: Online fulfilment upgrades to profitability possibility; discount operators; analysis of Tesco, Sainsbury’s, Asda, Morrisons, Aldi, Lidl, Co-Op, Waitrose, M&S

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Related Experts

Greg Styles

Head of Retail Development and Advisory

Retail Development


Greg is a retail property and development specialist with over 30 years’ experience, who advises clients across the UK on all aspects of agency, development and investment. He provides advice on food stores, shopping centres, out of town retail, large site sales and acquisitions, and all forms of retail, residential and mixed use development.  His expertise includes site agency, master planning, scheme design, development appraisals, compulsory purchase, leasing, development agreements and the sale and funding of projects. 

Greg is one of the UK's leading experts in supermarket property and development. He is retained by Sainsbury's to advise on their supermarket acquisition programme,  he advises the property team at ALDI on projects across the UK, and he acts for Morrisons on the disposal of large, complex surplus sites and stores.  Greg also specialises in the promotion and sale of large development opportunties for the full range of uses.

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Matthew Hobbs

Head of Retail - Lease Advisory

Retail - Lease Advisory

London - West End

Having worked in the Lease Advisory side for over 30 years, Matthew is a specialist in high value retail / leisure rent reviews, lease renewals and lease negotiations.

This includes luxury shops, bars, restaurants and gyms in London along with other large retail stores (particularly supermarkets / department stores) and flagship shops throughout the UK for both landlords and tenants. Occupational advice and due diligence on supermarket investment acquisitions is a particular expertise and he is regularly approached by investors and brokers alike to provide specialist advice in this area. 

His team of five full time professional surveyors and two consultants deal with retail / leisure rent reviews, lease renewals and regears for landlords and occupiers in all of the major towns and cities in the UK. He also works closely with the agency and investment teams in asset management initiatives, lease restructuring and investment acquisitions and sales.

He is on the RICS panel of independent experts and is regularly called upon to act as third party on high value rent reviews in Central London and throughout the country.

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Becky Hance


Retail Capital Markets

London - West End

Becky has specialised in the retail investment market for 12 years covering all sub-sectors of retail including Supermarkets, High Street shops, Retail Warehousing and Shopping Centres. She advises a range of clients including UK Funds and Institutions, Property Companies and Private UK and Overseas Investors. 

Becky joined Colliers International in 2014 following its acquisition of Briant Champion Long. Since then she has advised on over £800m of transactions. 

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