Lidl's Mega Warehouse Near Luton Would See 1,000 New Jobs Created

Discount supermarket Lidl has revealed plans to build its largest ever UK warehouse near Luton.

Confirming the move on Monday (8 January), the company said the warehouse would be more than double the size of any other facility it has in the country, including its mammoth hub in Exeter that opened in November.

Lidl said the move was part of its plan to invest £1.45bn in its UK operations in 2017-18, and the 1 million square foot warehouse on the 58-acre Luton estate would be its 16th British warehousing centre.

The site situated at J11A of the M1 near Houghton Regis, Bedfordshire, will create up to 1,000 new jobs and cater to growing demand at Lidl supermarkets in Greater London, the company added.

It said it had already exchanged contracts on the site with the Houghton Regis Management Company, which is a consortium of Aviva Investors, Land Improvement Holdings and the Diocese of St Albans.

Lidl currently operates 690 stores in the UK and plans to open five new Greater London stores in the next two months at Shepherds Bush, Walthamstow Central, South Ruislip, Hornchurch and Rosehill.

Ingo Fischer, director for expansion and development at Lidl, said the supermarket also has plans for a further five warehouses.

"With five new stores opening in the next two months alone, and further store expansion and development plans in place for the Greater London area across the new financial year and beyond, this new [Luton] warehouse is vital in supporting our ambitious expansion plans in and around the M25."

RECENT NEWS

Global Fund Groups Set To Hit $200tn

Global fund groups set to hit $200tn in assets by 2030, says PwCThe global fund management industry is expected to reach... Read more

Underperform And Report To Office: AHL's Struggles Trigger Policy Shift At Man Group

Man Group, one of the world’s largest hedge funds, has ordered staff at its flagship systematic trading unit AHL to re... Read more

Asia's Quiet Hedge Fund Star: Arrowpoint Rides Tariff Waves To Strong Gains

While some hedge funds chase headlines and media attention, others prefer to let performance speak for itself. Arrowpoin... Read more

China's Contrarian Hedge Fund Star Bags 1,485% Return

In a year when many global investors remained wary of China’s turbulent markets, one homegrown hedge fund has delivere... Read more

Beyond The Black Box: How Hedge Funds Are Systematically Embedding AI Into Core Operations

Artificial intelligence (AI) has long been discussed in hedge fund circles as a powerful but opaque tool—useful in the... Read more

Hedge Funds Rebuild Long Positions In Oil

Brent Crude Rally Gains Momentum After Diplomatic Thaw Hedge funds have significantly increased their bullish bets on B... Read more