Waitrose is to open up to 100 new convenience shops over the next five years as part of a £1bn investment.

The upmarket grocer has pledged to inject £1bn into its store investment programme over the next three years and will both launch new stores and improve 150 existing shops, which represents almost half of its estate.

The store upgrades will include revamping its service counters, more dedicated space for on demand grocery orders, and more collaboration with third-party partners through branded concessions, such as Crosstown doughnuts and Sushi Daily.

The supermarket will unveil its revamped Finchley Road store today, which along with its Sudbury and Maidenhead shops, which will be used to trial new services, product offerings and concept upgrades over the next year, before a new blueprint for Waitrose shops is revealed in 2025.

Alongside the store refurbishments, Waitrose is also set to open its first new store in six year in Hampton Hill later this year, followed by a second in Greater London early next year.

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Waitrose executive director James Bailey said the new store openings represents a shop “tailored to the local area” and designed in mind of “how customers like to shop”.

He said: “Waitrose will always offer fantastic food, but the groundwork we have undertaken behind the scenes in recent years means we can now focus on growth through new shops and ensuring our existing ones are providing great shopping experiences that match the quality of our products.”

John Lewis Partnership chief executive Nishi Kankiwala added: “Our investment in our Waitrose store portfolio is already yielding strong results, with customers responding positively.

“As our retail driven plan continues to gain traction, our growing number of shoppers and increasing customer satisfaction scores are clear indicators of its success.

“This is a result of our unrelenting focus on improving the customer experience of our retail businesses, taking the love that exists for both brands and making sure customers are rewarded with better shops, the highest quality products, and the best service.”