Lips stay sealed on ‘£100m.’ shops deal

Thursday 24th June 2010, 2:29PM BST.

Guernsey’s newest shops boss, Waitrose managing director Mark Price. (0988539)

WAITROSE and Sandpiper were tight-lipped yesterday about how much the UK supermarket operator would be paying for Safeway and Checkers Admiral Park.

But an industry insider believed the deal could cost Waitrose as much as £100m.

Waitrose property and development director Nigel Keen would not be drawn on the price.

‘It is commercially sensitive, as I’m sure you can appreciate,’ he said.

Contracts have been exchanged and the deal is expected to be completed in October. Sandpiper will continue to operate the stores until they are handed over to Waitrose in February. The shops will then be rebranded, which will take about a month as each store closes for two weeks for refurbishment.