Tesco has bought a 3.2ha (9-acre) site on Arlington Securities’ Gloucester Business Park for an undisclosed sum. Tesco’s plans to develop a district centre, which would include a large supermarket, have brought the retail giant into conflict with Brockworth council.
The local authority has earmarked the site for industrial use in its draft Tewkesbury local plan. It envisages a much smaller retail area at the opposite end of the business park, where 2,000 houses are to be built. Tesco is to argue for a change to retail use at a public inquiry.
Local agents suggest Tesco paid around £300,000 per acre for the site, with another £200,000 top up per acre if the scheme gets planning consent.
Brockworth councillor Mark Hendry, who is also vice-chairman of the borough council planning committee, wants to see a prestige company headquarters built at the site.
“We have conducted public opinion polls in both Brockworth and Hucclecote and a substantial majority did not want another a large supermarket on that site,” he said. Sainsbury’s supermarket is located about a mile away.
A spokesperson for Arlington Securities said the Tesco deal “will give Gloucester Business Park – if the planning application goes through – a retail focus which it needs because of the rate of development on other parts of the park. ” The 160ha (395-acre) site with direct access to the M5 is proving to be one of the most successful in the region.
Joint letting agents are Strutt & Parker and Alder King.
EGi News 19/03/01
