Tesco shifts unwanted sites for 'mixed-use' developments

Supermarket giant Tesco has announced that it has agreed to sell 14 development sites 'suitable for mixed-use and residential projects' across London, the South East and Bath.

Tesco: retailer cutting back on store openings
Tesco: retailer cutting back on store openings

The sites, owned by the Tesco’s development arm Spenhill, have been sold to real estate investment manager Meyer Bergman in a £250 million deal.

Tesco said 14 Spenhill sites would be sold, 11 of which have already been completed. The sites are dotted across London, the South East and Bath:

· Bath Press Site - Bath and North East Somerset Council
· Fulham High Street - London Borough of Hammersmith and Fulham
· Highams Park - Waltham Forest Council
· Hounslow, next to Hounslow bus garage - London Borough of Hounslow
· Lewisham, next to existing Tesco store - Lewisham Council
· New Barnet, East Barnet Road - Barnet Council
· St Albans, London Road - St Albans City and District Council
· Tolworth, former MOD site next to Tolworth Broadway and A3 - Royal Borough of Kingston upon Thames
· Hillingdon Master Brewer Site - London Borough of Hillingdon
· Hillingdon Circus - London Borough of Hillingdon
· Woolwich Phase 3, next to existing Extra store - Royal Borough of Greenwich
· Kensington, next to existing Cromwell Road store - Royal Borough of Kensington and Chelsea
· Woolwich Phase 4, next to existing Extra store - Royal Borough of Greenwich
· Epsom, Upper High Street - Epsom & Ewell Borough Council

Tesco chief executive Dave Lewis said: "We are very pleased to have agreed a deal with Meyer Bergman that will bring forward significant investment for these local communities, including opportunities for residential development.

"We will be working with Meyer Bergman and local councils in the coming weeks to complete a formal handover and look forward to the delivery of investment on these sites."


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