Bradford-born retail chief Peter Marks has announced plans to open Britain’s poshest Co-op food shop – just down the road from Buckingham Palace.

It is part of a move that will see the customer-owned retail giant have a food store in every postal area in the UK.

The Co-operative Group has signed contracts with The Crown Estate for a store in The Strand, London, in WC2 – the only postal area in the country where The Co-op does not have a food store. The shop will open in February at 456-459 The Strand, near enough for the Royals to claim their Co-op ‘divi’.

The opening is part of the group’s plans to open more than 300 food outlets over the next three years, creating around 7,000 new jobs.

The plans include a renewed focus on stores in city centre locations, where The Co-operative is looking to increase its presence.

To help achieve its target, the group plans to double the size of its food acquisition team during 2011.

Following the acquisition of the Somerfield chain in 2009, The Co-operative became the UK’s fifth largest food retailer with nearly 3,000 stores across the country.

The group has 2,000 other Co-operative trading outlets across the UK, including high street travel, pharmacy and bank branches.

Group chief executive Peter Marks, who lives in Bingley, said: “The Somerfield integration programme is due to be successfully completed by the first quarter of next year, but we have no intention of resting on our laurels, and the store on The Strand – just down the road from Buckingham Palace – will give us unique coverage across the UK.”

The Co-operative Group reported a 12.6 per cent rise in food sales to £169.7 million in half year to July 3. It had a 7.6 per cent share of the market after buying the Somerfield chain more than a year ago, putting it in a position to rival the ‘big four’ supermarkets, including Bradford-based Morrisons.

Mr Marks said: “Over the last three years the group has been transformed, underlining the strength of our ownership model which allows us to invest through economic cycles, in the long-term interests of our members and our customers.”

The Co-operative Motor Group is sponsoring the Business Personality category in the T&A’s Bradford Means Business Awards which will honour outstanding achievements among the district’s business community.