Published on 30 - September - 2010
Wilkinson embarks on major expansion planDIY and household goods retailer aims to grow store portfolio from 342 to 500 by 2014.
Wilkinson has instructed independent retail surveyors Smith Price, along with Colliers CRE to assist with the store expansion programme and is looking at opportunities within the M25 and satellite towns. It has also retained agents Savills and Rowley Hughes Thompson to locate opportunities within the South West.
Potential locations include high street spots, shopping centres and out-of-town locations, while the stores will have a minimum retail floorspace of 10,000 sq ft.
Wilkinson reported a turnover of £1.4bn in the last financial year, with an operating profit of £31.6m. It opened 17 new stores in 2009/2010.The ambitious expansion plan will see it grow its current store portfolio from 342 units to 500 in the next four years.
In Wilkinson's latest financial report, family directors Karin Swann and Lisa Wilkinson said that the retailer is "now confidently heading into what could be our most exciting period ever."
Smith Price head of retail agency John Mortimer said: "It is the first time in its 80-year history that Wilkinson has fully retained agents and we are delighted to have been retained to assist with its expansion programme. We are confident...we will be able to help reinforce Wilkinson's strong market position by identifying excellent opportunities on the high street, in shopping centres or in out-of-town locations."
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