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| | | | 12/09/2013 | Egi, Jack Sidders - Next plans 1.4m sq ft expansion | | | | | Next sets out expansion plans | | | | | Egi reports that Next has set out plans to expand its occupational portfolio by 1.4m sq ft over the five years to 2018.
Next said it had already identified the space in its five-year pipeline and expected to open 300,000 sq ft in 2014, with the rate of expansion growing to 450,000 sq ft in each of the following two years.
Around 800,000 sq ft of Next’s pipeline will be for large-format fashion, home and garden stores.
Overall Next has 780,000 sq ft of new space under negotiation and in need of planning permission, a fact Next said raised some doubt about how much space it will actually open.
However, it said it was engaging actively with planners and councillors and that none of the new stores would replace town centres.
The rationale for Next's expansion came from a strong performance from its recently opened stores, with net margins of 22% being achieved on the newest space. |
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