I don't know if it's the guys behind Instanbul (3 variations of the same supermarket in the same street does seem rather crazy, and the one currently in the high street looks awful...
Does it? OK the backlit sign is ugly, but they've always got a fantastic array of fresh fruit and veg laid out which I think looks nice.
Regardless of what it looks like it's a well stocked little shop. As well as being a good place for fruit and veg, the big draw for me is huge bunches of fresh herbs at bargain prices. And some of the fresh bread is worth checking out - their pitta bread are so much nicer than supermarket fare. If there's something similar planned for the old Budgens, I could think of far worse.
Also I've never been to Penge Food Centre, but I know some people make special trips to Penge from miles away (well, Crystal Palace) specifically to go there.