Skip Ribbon Commands
Skip to main content

News Release

Newcastle

New 67,000sqft Sainsbury’s store opens for business in Heaton

Jones Lang LaSalle advises Hanro on new store


Newcastle, 21st September 2011- Jones Lang LaSalle has advised Hanro Limited on the development of the new 67,000 sq ft (net) J Sainsbury’s store at Benton Road, Heaton which opened its doors to the public last month.

The new store, which opened on 10 August, will increase Sainsbury’s range of food and non-food items available in Newcastle and incorporates environmentally friendly features, such as rainwater harvesting, a biomass boiler and sun pipes.

The new store sits on the site of a former motor dealership on Etherstone Avenue which Sainsbury’s acquired in June 2007.  Hanro owned the freehold of the existing Sainsbury’s store and - having developed the new store in conjunction with Sainsbury’s - will retain the freehold.  The old store is currently being demolished to provide additional car parking and facilitate the development of a new petrol filling station. 
 
Adam Serfontein, Managing Director of Hanro, said “Hanro is delighted to have developed this store with Sainsbury’s and we look forward to continuing our association with them.  We believe this sector has solid growth potential and is resilient to short term market fluctuations and the enlarged modern format store is a very attractive addition to our investment portfolio.”

Colliers International advised Sainsbury’s whilst Jones Lang LaSalle provided development consultancy, valuation and letting advice.

Jonathan Sykes, Head of Jones Lang LaSalle’s Newcastle office, commented: "This was a complicated deal to bring together the two interests, which included the surrender of three separate leases on the existing store, a pre-let of the new store and a transfer of the freehold interest within one development agreement.  It enhances the value of Hanro’s existing interest and provides Sainsbury’s with an excellent new facility which will benefit their customers.”

Christian Wakelin, regional property surveyor for Sainsbury’s, concluded: “We are delighted to have been able to secure the site for our new and improved store, which significantly increases the range of food and non-food items we are able to bring to Heaton. A lot of hard work has gone into making this store possible and we were pleased to be able to open our doors again last month.”