Costa Coffee Confirms Plans to Depart High Road
Café will close its local outlet next February
Costa on Chiswick High Road
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December 13, 2023
Café chain Costa Coffee has confirmed that it is to close its café at 246 Chiswick High Road.
The staff at the local branch had already told regular customers about the move which was officially confirmed this week.
A Costa Coffee spokesperson said, “We can confirm that our Costa Coffee store in Chiswick will close its doors for trade on the 6th of February 2024. We apologise for any inconvenience caused. All team members will be re-deployed to nearby stores. Customers can continue to enjoy their favourite Costa coffee at our nearest store in Kings Mall, Hammersmith.”
The departure coincides with the expiry of the current lease and it is believed that high rents were a factor in the decision. The lease was advertised for £120,000 plus VAT per annum back in 2018 when Costa was already the tenant suggesting the company was already considering leaving then. The rates payable to Hounslow Council are £49,476 per annum.
Although Costa has announced the closure of some stores across the country in recent months, its most recent trading statement indicates that it is seeing growth in revenue and profits and only a handful have been shut out of a portfolio numbering over 2,800. In the three months ended September 2023, Costa Coffee's total revenue increased by 8%, and its operating profit increased by 14%.
The Chiswick premises are 3,150 sq ft covering the ground and first floor with some seating outside.
The lease is being advertised to begin next February with no rental level given in the marketing materials. Local commercial estate agents say it is an increasing common practice for relatively low rents to be given to new tenants to allow them to test their concept although, given that this would be considered a prime site, it is not certain that advantageous terms like this would be offered.
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