JPMorgan Cazenove has said in a note it expects Tesco to develop its considerable land bank.
However, the purchase of new land would be limited. The broker said it expected the era of Tesco opening new hypermarkets of more than 50,000 sq ft to be over. Tesco is tipped to say next month it will open fewer supermarkets in the UK. The retailer has £400m of proceeds from a Thai property listing.
15/03/12 Financial Times 24
