Co-op acquires shopping centre
EAST of England Co-operative Society has acquired a shopping complex at Frinton-on-Sea. The Triangle Shopping Centre has 19 shop units, including its anchor store, Iceland.
EAST of England Co-operative Society has acquired a shopping complex at Frinton-on-Sea.
The Triangle Shopping Centre has 19 shop units, including its anchor store, Iceland Supermarket.
The society already owns the freehold on its own Co-op Fiveways Supermarket on the site.
The purchase, which also includes five flats, 10 garages and a car park, was completed yesterday .
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The sale excludes premises occupied by the Community Association, Tendring District Council's Housing Office and an adjacent public house.
East of England Co-operative Society chief executive Richard Samson welcomed the completion of the deal.
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“This major purchase adds to our investment portfolio and consolidates our landholding on the site. As a local organisation committed to supporting the communities where we trade we are delighted to be in a position to work with other local traders to build on the centre's success,” he said.
The society, the largest independent retailer in East Anglia, has more than 200 trading outlets in 73 towns and villages, as well as the three regional centres of Norwich, Ipswich and Colchester.
Its business activities include food stores and supermarkets, department and home stores, jewellery, travel, pharmacy, optical and funeral branches, petrol forecourts and motor dealerships.