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Former Tesco sites to be transformed with new retail projects

Former Tesco sites to be transformed with new retail projects

Sites formerly earmarked for new Tesco stores across Scotland are to be transformed into new retail or housing sites after being bought up by developer London & Scottish.

The company bought up 14 sites and has sold four of these on for housing, with 300 new homes set to be built. These will be constructed in Paisley, East Kilbride, Kilmarnock and Coatdyke in Lanarkshire.

In addition, ten sites will be redeveloped with a mix of different retailers, designed to bring some major brands to towns and districts which may not currently have them.

The developer will spend £100 million on the new retail schemes in Crieff, Thurso, Aviemore, Cupar, Cowdenbeath, Dalkeith, Paisley, East Kilbride, Kilmarnock and the Springburn district of Glasgow. Some of these locations, such as Aviemore, already have a Tesco but had been earmarked for expansion.

Commenting on the plans, development director with London & Scottish Developments Bryan Wilson said: "This has been a hugely complex portfolio to deliver, involving working simultaneously with over a dozen local authorities on a wide variety of planning issues.

"Essentially we are giving some of the country's biggest retailers access to communities they have identified as key development locations for their businesses, but have been unable [to] access through [a] lack of suitable sites."

Subject to all planning matters being settled, building work will begin early next year.

Tesco bought up dozens of sites across the country ahead of a proposed major expansion, which was cancelled last year after the company suffered a succession of negative results and major accounting issues were uncovered.

As a result, it has closed many existing stores as well as divesting many of the proposed new sites.

Other examples of these being bought up include the former Royal Hospital in Wolverhampton, which had been due to be redeveloped as a city centre store.

Instead, the 12.5-acre site was purchased by the Homes and Communities Agency, which will use it mainly to build new starter homes. It could also host a new campus for Wolverhampton College.

Image: iStock

 

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