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Tesco sells off unused west London sites to property investors in £250m deal

The supermarket agreed the deal worth £250m for 14 sites across the country, with most affected stores in London and the South East

Tesco has agreed to sell off its unused land to property investors Meyer Bergman in a business deal that has raised the supermarket company £250m.

The 14 sites across London and the South East were originally planned to be the home of large supermarkets but have now been sold by Tesco's Spenhill development arm.

Five of the sites sold are in west London, including spots in Kensington, Hounslow, Fulham, and two sites in Hillingdon.

Some of the land sold already have Tesco or Tesco Extra stores on them, with the remainder of the land being used for housing and other developments.

The retailer said it "marks further progress" in the company's strategy to "strengthen its balance sheet".

Chief executive Dave Lewis said: “Since announcing our decision to build fewer stores we have been working with Meyer Bergman to bring forward investment on our Spenhill sites.

"We are very pleased to have agreed a deal with Meyer Bergman."

Full list of Tesco sites sold to Meyer Bergman

  • Bath Press site – London Road, Bath
  • Fulham High Street, south-west London
  • Highams Park – next to existing Tesco store in north-east London
  • Hounslow – next to Hounslow bus garage, near Heathrow Airport
  • Lewisham – next to existing Tesco store in south-east London
  • New Barnet – East Barnet Road, north London
  • St Albans – London Road
  • Tolworth – former MoD site next to Tolworth Broadway and A3 near Kingston upon Thames, south-west London
  • Hillingdon Master Brewer Site, west London
  • Hillingdon Circus, west London
  • Woolwich Phase 3 – next to existing Extra store, south London
  • Kensington – next to existing Cromwell Road store, west London
  • Woolwich Phase 4 – next to existing Extra store, south London
  • Epsom – Upper High Street, Surrey

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