Su­per­mar­ket chain to open new store in vil­lage

Western Mail - - BUSINESS IN WALES -

THE Co-op is to open a new con­ve­nience store in the north Wales vil­lage of Peny­groes.

Its new 4,000 sq ft store, re­plac­ing a smaller store in the Gwynedd vil­lage, will se­cure 20 jobs.

Work has started at the site of a dis­used garage and show­room on Wa­ter Street, which had been owned and op­er­ated by the Povey fam­ily for more than 50 years.

The site has been ac­quired by prop­erty owner and devel­oper Cam­brian Es­tates, who were ad­vised on the land ac­qui­si­tion deal by the Cardiff of­fice of prop­erty ad­vi­sory firm Fletcher Mor­gan.

The Povey fam­ily are rein­vest­ing the pro­ceeds from the land deal in build­ing a new MOT fa­cil­ity be­hind the new Co-op store.

The su­per­mar­ket chain has signed a 15-year lease, with no break clause, at a rent of £70,000 per an­num.

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