Despite many high street retailers succumbing to the pressures of the economy, one in particular has done quite the opposite.
Phones 4U has gone from strength to strength and have just opened their 38th new store this year. This is is their fourth new retail store in London during in the past twelve months alone. But the company is not stopping there and is planning to open a further two new stores before Christmas to bring their total for the year up to 40.
CBRE are the appointed advisor for Phones 4U on all acquisitions and disposals in relation to their property portfolio. Nik McCarthy, spoke of CBRE’s role with Phones 4U.
He said: “It is exciting to be involved in such a large acquisition programme.
“We look forward to continuing our close working relationship with Phones 4u to help deliver their business plan portfolio and strengthen the company’s position as the leading independent mobile phone retailer.”
Ever since the company was bought by BC Partners in early 2011 the company developed a plan to open 45 new stores per year up to the end of 2013. Since then, they have opened approximately 100 new retail commercial properties throughout the country.
Speaking of their expansion strategy, James Whiteman, Group Estates Manager at Phones 4U said: “We have worked closely with CBRE to help mould our acquisition strategy and refine our target locations.
“CBRE has provided first class advice across the UK and unearthed some excellent opportunities that we have acquired.”
Do you think Phones 4U can continue its rapid expansion rate for another year? Or do you think their battery life will run out sooner than they think?
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