Tesco on Thursday announced the sale of 14 development sites in the southeast of England, London and Bath to European real estate developer Meyer Bergman for £250m.
Meyer Bergman plans to build some 3,000 homes on the sites, subject to obtaining the necessary planning permission.
The supermarket chain is by no means the only one looking to benefit by selling unused sites bought prior to the recession. CBRE data show that of the 46m sq ft of land bought by Asda, Morrison, Sainsbury’s and Tesco with the aim of building on it, only 3m sq ft were actually being built on.
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The Independent, p. 59
