Investment sale of Greggs and Costa Coffee roadside retail scheme completes

The modern, purpose-built roadside retail development in Stoke-on-Trent was delivered from start-to-finish through Godwin’s planning and development expertise

UK property developer Godwin Developments announces that it has completed the investment sale of a new, purpose-built drive thru and drive to roadside retail development for leading coffee operator Costa Coffee and UK bakery giant Greggs to a private investor in a multimillion pound deal. The modern scheme is located next to the busy A50 Baths Road in Stoke-on-Trent and features six EV charging points operated by The EV Network, boosting the ESG credentials of the scheme.

Godwin Developments acquired the site in September 2020, identifying the potential of a prime roadside retail location which benefits from 60,000 daily passing traffic, large consumer catchment area and proximity to the well-established Phoenix Retail Park.

Within 15 months, the business had designed the scheme, secured planning and both tenants, and reached practical completion. The development was fully occupied in December 2021, demonstrating Godwin’s fast-paced development capability and ability to secure end users.

The drive thru unit on-site, measuring 1,800 sq. ft, was pre-let to Costa Coffee within a month of the acquisition, with the second unit of 1,162 sq. ft. subsequently let to Greggs to operate as a drive to store with the inclusion of outdoor seating. 

In keeping with Godwin’s commitment to regenerating land and supporting economies, the roadside retail development has created a total of 71 local jobs during the construction stages and through its operation. It has also provided passing traffic and the community with a modern, convenient new place to access these leading food and drink brands as well as increased the electric charging infrastructure of the area.

Robert Birch, Development Director at Godwin Developments, said: “We are pleased to have executed the sale of this roadside retail asset which illustrates the value created through our land acquisition and development programme, which on this site took just over a year to complete. The sale of the asset supports our strategy of buying very well-located sites across the country and close to key infrastructure and consumer retail demand – a strategy which has delivered value growth and resilience through the cycle. We continue to look for similar opportunities to deploy our capital.”

Godwin Developments has commercial and industrial divisions with recent developments in Birmingham, Northamptonshire, Staffordshire, Dorset and Cambridgeshire, alongside a strong UK-wide pipeline. Its commercial division develops and delivers projects for leading brands such as Lidl, McDonald’s, Burger King, Euro Garages, Greggs, Starbucks and Costa Coffee, with sixteen units delivered to date, with a further pipeline of 31 units. At the same time the team works closely with electric vehicle charging providers, helping power the UK’s low carbon future.

Irwin Mitchell advised Godwin Developments on the sale.

Recently Starbucks has announced plans to open 140 new coffee shops in the UK this year and half of the sites will be drive-thrus, as reported by The Times on 28th March 2022. The company will also continue to increase its delivery business where the average spend on delivery is £7 higher than in-store. Working with Just Eat and Deliveroo 'lifted the proportion of sales from delivery channels to 9%’. This is great news for Starbucks who are signalling strong growth for the future.

Starbucks is one of the well-known coffee brands Godwin work with. Godwin Developments completed Brampton Hut Services in Huntingdon, a 6 unit roadside retail development which opened with a new Starbucks store. More recently, in Q2 of 2021, Godwin finished Rushden Services in Northamptonshire and secured a lease deal with Euro Garages as an occupier. The site is home to a petrol filling station, a Greggs and Starbucks coffee shop.

Starbucks' success not only shows the popularity of coffee shops but also of the roadside retail sector. Indeed, the drive-thru coffee shop has increased in popularity coming out of lockdown as they offer ‘minimal contact’ and their convenience will continue to be a major selling point especially to commuters and those travelling. Last year Costa Coffee announced their continued interest in the 'fastest-growing sector' of the drive-thru model which will expand to include motorway sites.

It is clear that both the coffee shop and roadside retail sectors have a lot of growth ahead of them and will continue to be an area of interest for Godwin Group.

Accelerated growth leads to expanded office space for investment specialists Godwin Capital

Godwin Capital, the fundraising and investment arm of Godwin Group, is delighted to have moved its growing Birmingham team to a new office space.

The company has continued to expand its team during the Covid pandemic and will occupy one floor of 1 Newhall Street in central Birmingham.

Godwin Capital’s new spacious Birmingham location will better facilitate the organisation’s ability to invest in property development opportunities throughout the UK.

Rupy Dhami, Managing Director, Investments – Godwin Capital, said: “Our relocation to the Newhall Street offices is a reflection of the expansive moves being made by the team at Godwin Capital, and indeed by Godwin Group as a whole.

It’s a testament to the perseverance and hard work of the Birmingham team, who can now take pride in occupying a floor in this excellent environment, and we are looking forward to the exciting strides that the team will undoubtedly make from the new office space. We have always recognised the value of the people that make up our company and we feel it’s essential to provide the highest calibre working environment that we can in order to support their endeavours.”

Godwin Group is committed to ensuring that its projects breathe fresh life into local communities, providing much-needed homes and useful retail amenities at a high standard to the people who need them.

As such, the Godwin Group always strives to enhance the towns and cities in which its developments are located.

Acorn Property Group releases a new Fixed Rate ISA investment.

Acorn Property Group has just announced the release of their 2 year ISA Eligible property investment. The offering provides prospective investors with a fixed interest rate of 9%p.a. held in a tax free Innovative Finance ISA.

The proceeds of the investment raise will be used to develop and build out a site on the western boundary of Sherston, Wiltshire.

Sherston is an attractive Cotswold village that has been listed in the “Top 5 Villages in the Country” by The Sunday Times and was featured on Channel 4’s “Village of the Year” series in 2018.

The proposed scheme has a mixture of house types all deign specifically for this development and all have traditional Cotswold style elevations. There will be 45 units made up of 2, 3, 4 and 5 bedroom houses with a range of sizes from 768sqft to 2468sqft.

For more information about the company and their IFISA offering to prospective investors do not hesitate to contact us directly and request an information pack.