Specialist tenant adviser CAPA has been engaged by UK hardware retailer Wilko as part of its strategy to right-size its store portfolio.

Through a series of lease restructuring, store relocations and part disposals, CAPA will seek to trim 3m sq ft of excessive or unused space across the 400-site estate over a three-year period. In turn this will enable Wilko to prioritise stores for re-fits and general modernisation.

In addition, CAPA is negotiating rent reviews against landlords on more than 100 of the leases.