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Gloucestershire Business News

Gloucestershire supermarket for sale for £1.5m

Following uncertainly over the future of the site in recent years, Lydney Co-op has been put on the market for £1.5m.

Situated on Newerne Street in the town, the purpose built food store has a dedicated car park with 60 spaces.

The site is being advertised as a "redevelopment opportunity" with possible alternative use.

Two years ago, Co-op announced a national review of its store portfolio and identified several that did not fit in with the company's long term business strategy. This included the Lydney supermarket.

At the time of the original announcement, customer care manager Michelle Harwood said: "I can confirm that following a full strategic review of the Food Retail Business, the Midcounties Co-operative has identified a small number of stores which in their current format do not fit with the long-term strategy of the Society. This includes the Lydney store."

Co-op once had large supermarkets in Coleford, Newent, Lydney and Cinderford but has recently come up against stiff competition from rival grocers Lidl and Tesco. It sold its large Cinderford site to Tesco earlier this year, which is set to close in May and reopen under the new brand in June.

The Lydney store is currently still open for business, but the property advertisement on rightmove suggests the retailer is looking for offers in excess of £1.5m for the 1.5 acre freehold site.

Ms Harwood added: "We are considering the best approach for each site, including reviewing if the stores can be redeveloped, reduced in size or if an appropriate new site nearby can be located."

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