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Living Near Waitrose Boosts Property Price

Living Near Waitrose Boosts Property Price

Research by Lloyds Bank has shown that properties within “easy reach” of a Waitrose may achieve a £15,331 higher selling price.  The study, known as the “Supermarket Effect” also found that those living within a short distance of a Sainsbury’s could expect to see a 10% rise in the value of their property.  Andy Hulme, mortgages director at Lloyds Bank said “having a grocery shop within easy reach appears to be high on the list for home buyers looking for good access to local amenities”.  Properties with an Asda, Lidl or Aldi in their locality were found to either remain at the same value or decrease by up to 3%.

In January, Waitrose’s development director Nigel Keen announced that the grocery retailer is to open 14 new stores in 2015, creating 2000 jobs.  Keen to expand outside of London, branches will be opened in Nottinghamshire, East Dumbartonshire and East and West Sussex, to name but a few.  However, building on its success in London, a Waitrose cookery school will launch in King’s Cross later this year.  Courses currently run in Finchley Road and Salisbury and last anywhere from one hour to two days with prices starting at £50.  McLaren Construction have recently completed works on Waitrose’s first national distribution centre in Milton Keynes.  It is set to open this summer.

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