Tesco To Move Into House Building Sector

Mon, 22 Jan 2007
 
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Tesco Plc, the UK's largest supermarket chain, plans to build as many as 2,000 homes over the next three years as the grocer plans to break into the home building business by redeveloping urban sites.

The supermarket retailer is planning to build homes to make new store developments commercially viable, mainly in poorer areas of the country.

A huge store is being planned to go along with 960 new homes in Woolwich, southeast London, as part of a £400 million project, and a further 600 homes are to be built in Tolworth, Kingston-upon-Thames.

However Dominic Grieve, the local Conservative MP, will attack Tesco for keeping local residents clueless over its plans to proceed with a superstore in the heart of Gerrards Cross, a market town situated on the Chiltern Railway line.

During a debate in the House of Commons, Mr Grieve will call on the Government to put pressure on Tesco to lift the shroud of secrecy hanging over the project.

Mr Grieve said, "My constituents are concerned at the long delay and want to know whether the scheme will ever be completed."

Tesco has countered the attack by saying residents have been kept informed and will continue to do so. The company also said it regrets the delay over Gerrards Cross, but feels the safety of the scheme has to be paramount.

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