| | Costa Coffee experienced a growth spurt at the end of last year. It opened 16 coffee shops in the two months before Christmas, and aims to continue its expansion.
By the time parent company Whitbread ends its financial year in March, there could be 100 more openings - not counting the 50 for which Costa has granted franchises.
Costa's property director, Clive Bentley, attritbues the rapid expansion to the fact that Costa can trade from a wide variety of locations and formats. Its portfolio includes drive-through outlets, 100 stores in Tesco supermarkets, factory outlets and standalone restaurants on key roads.
Last month, it opened its fourth drive-through outlet, in a standalone 1,800sq ft unit on Huddersfield's northern ring road, where a local developer granted it a 10-year lease and built according to Costa's specifications.
Costa also opened outlets in last year's three new shopping centres: Trinity Walk in Wakefield, Westfield Stratford City in east London and Parkway in Newbury.
Bentley explains: "We always seek to get the best units. If we are going into a town, we always like a prime corner unit."
He says that, although rents have decreased, prime shops will always hold their value.
He adds that he is disappointed no new shopping centres will open in 2012 and says he tells retail agents there is not enough stock to satisfy requirements.
Costa is therefore changing the décor in some of its London coffee shops. The new style, called Metro, will target younger customers. The first - a new acquisition - opened this summer on Great Portland Street in a former Oddbins store.
|