Major UK grocery store set to money in on automobile park areas at 5 places

Supermarket giant Asda is set to offload some of its ‘surplus space’ – including 10 acres of car parking space – at five of its outlets in major locations including Slough

Asda is set to flog some of its car parks in a bid to counter its debt.

According to The Daily Telegraph, the supermarket giant is understood to have launched a process to offload 10 acres of car parking space and nearby fields at five of its outlets. An advisor to Asda, Newsteer, informed potential developers Asda had identified “surplus space” at stores in Cardiff, Essex, Burgh Heath, Reading and Slough.

A spokesman for Asda told the publication: “It’s common practice for national retailers with large property portfolios like Asda, Tesco and Sainsbury’s to explore how best to make use of surplus land in their property estate. Prospective parties interested in these sites are advised to contact Newsteer.”

According to Retail Gazette, property sources claimed a deal might raise around £5million for Asda. It won’t be the first time Asda’s looked to trade in some of its property portfolio.

Last May the business sold the freehold of its Park Royal superstore in Ealing, London to housing developer Barratt. Retail Gazette reported in December last year Asda had borrowed £155m through a private loan to pay off looming debts.

It comes after the green and white-branded supermarket saw sales fall 5.8% during the 12 weeks until December 29 last year. Following this led to 13 regional managers being let go, according to RG claimed.

In a message sent to staff by boss Lord Rose, he claimed: “Change is never easy and is unsettling, but the executive team believe it is necessary to enter 2025 in a stronger position, fully focused on serving our customers, delivering our ambitions and driving long-term growth.”

A spokesman for Asda said: “This approach brings us in line with our competitors and the wider market, allowing us to build high-performing teams with a collaborative culture and respond to what our business needs the most.

“The change is effective from January 2025 to allow time for all colleagues to make any necessary arrangements.”