Subway has instructed property agents to find 70 new locations a year in Greater London and the south of England as it seeks to further expand its store estate.
Long-term property partner Stiles Harold Williams has been told to uncover potential sites in Greater London, Hampshire, East Sussex, West Sussex and the Isle of Wight.
It said that with some 270 stores in Greater London and more than 100 in the South Coast territory, there is still significant potential for many more acquisitions. SHW has worked alongside Subway for some 15 years and has been involved in more than 250 transactions.
Nigel Evans, partner for SHW, said that the requirement is flexible with stores ranging from 200 square foot to 1,500 square foot, located in town centres, retail parks or on main roads where there is a good customer base such as office workers, tourists, students, shoppers and residents.
“The target is to secure at least 70 new stores a year in the two territories and with a high quality fit out, good covenant and a great success story, Subway are a very attractive high quality tenant for retail landlords,” he said. “New stores are urgently needed now to ensure they are shop fitted and ready for trading well in time for Christmas 2016.”
The move comes a month after Subway revealed it has extended its partnership with leading food, facilities and uniform services company, Aramark. The tie-up will see five Subway stores open across Aramark’s UK operations by the end of 2016.
Aramark already has four Subway stores including at Chichester College, Robert Gordon University, Aegon UK and, most recently, at Sparsholt College in Hampshire which opened at the end of 2015.
Greg Madigan, area development manager for the Subway brand in the UK and Ireland, said: “The success of our partnership with Aramark is due to the wide range of locations in which the company operates, and how easily the Subway brand can integrate into those locations, whether these are colleges, universities, hospitals or businesses.
“Non-traditional locations are a key area of growth for the Subway brand – the simple operations involved in running a store and the convenience offer make it a perfect fit for these locations.”