Beales has added a further store to its growing estate with the purchase of Rochdale’s Westgate Department Store.
Beales already operates three department stores in the north-west – in Bolton, Southport and Kendal. The purchase brings the retailer’s number of stores to 13.
Beales reportedly paid the Anglia Regional Co-operative Society £300,000 for the store’s assets and has signed a 25-year lease on the premises.
The latest addition comes just two months after Beales’ acquisition of Robbs department store in Hexham from the administrators of Vergo Retail.
In a statement, Beales said: “We are impressed with Rochdale’s town centre plan and the new planned transport links and believe the ownership of the store will provide the people of Rochdale with a better mix of shopping in the town than the current predominance of discount retailers.”
The purchase will be completed on September 5.
Beales’ pre-tax profits leapt 67% in the six months to May 1, from £543,000 to £909,000, and the group has stated its intention to expand its presence further.