Tesco lines up more property interests
News Category: Industry News
Published: 28-Apr-2010
Britain’s biggest supermarket is to go into house building, and plans to develop four ‘mini-villages’ centred around Tesco stores in the South-East.
As newspapers have pointed out, customers can already buy a home through Tesco’s estate agent partnership with Spicerhaart, and take out a mortgage through its banking arm.
The supermarket plans to build the developments in Bromley-by-Bow (400 homes), Dartford (1,000), Streatham (200 plus a bus depot) and Woolwich (900), in addition to some developments in Ipswich and north-east England.
Critics have warned that Tesco could end up dominating the UK economy. But others have suggested that if Tesco’s bosses actually ran the economy, the country might not be in the mess it now is.
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