The Midcounties Co-operative has set out an investment agenda for 2022 focusing on the development and expansion of its estate.
Midcounties has confirmed plans to open 10 new food stores in 2022 at a total investment of more than £5m and appointed a new head of property to spearhead this strategy.
Kathryn Lyddon will take responsibility for leading the Society’s property, acquisition and development function as it continues to implement its growth and investment plans, with her appointment seeking to support the Society in providing greater benefits for Midcounties’ members and allowing even more support for local communities.
Lyddon’s responsibilities will include leading and developing property strategy, optimising and maximising the Society’s asset portfolio value, minimising commercial risk, supporting the trading groups to improve sales and contribution through the right property decisions and creating partnerships with developers, suppliers and external professionals to increase revenues.
She is also expected to be key in helping to ensure that the Society’s property portfolio contributes to its sustainability strategy. Lyddon joins the Society with seventeen years of UK and international experience in roles spanning from international asset manager to regional acquisition manager and from development manager to disposals manager, working largely with Tesco in convenience, Dot Com and their international businesses both in Asia and Central Europe.
Chief executive at The Midcounties Co-operative Phil Ponsonby said: “As a Society we’ve committed to significant capital investment over the next five years – especially in our Food and Childcare businesses. Kathryn’s appointment as Head of Property, will not only help us to deliver against our growth and sustainability strategies, but also help us generate even greater benefit for our members and the communities in which we operate.”
On her new role, Lyddon said: “I’m really excited to be joining an organisation with ethical values at its core and which puts its members and local communities at the heart of everything they do. I’m looking forward to leading the team and supporting the wider Society as it continues its ambitious investment, development and growth plans.”