It's an ill wind?

daffy2
daffy2 Member Posts: 1,636
edited 17. Oct 2015, 05:17 in Community Chit-chat archive
I heard on the news this morning that Tesco will be disposing of some of its considerable land holding, selling it for housing. It could be good news for housing stock in the hardpressed London area, and potentially also for other firms wanting to provide retail services in those areas.That assumes of course Tesco doesn't continue its practice of ringfencing a site to prevent other retailers from operating - or keep part of the site for a convenience store of its own.
Financial embarrassment has possibly achieved what planning regulations and public wishes could not could not.

Comments

  • Slosh
    Slosh Member Posts: 3,194
    edited 30. Nov -1, 00:00
    It will be good if, and it's a big if, a lot of the properties built are social/affordable/keyworker housing and if they are not snapped up by overseas buyers, especially the Chinese and then let out at extortionate rents. Living in London and seeing how little of this type of housing is being built I'm quite cynical but I hope to be proved wrong.
    He did not say you will not be storm tossed, you will not be sore distressed, you will not be work weary. He said you will not be overcome.
    Julian of Norwich
  • daffy2
    daffy2 Member Posts: 1,636
    edited 30. Nov -1, 00:00
    You're quite right Slosh, and I'm under no illusions about whether it'll make much difference to those in need in the capital, but I was just thinking about the fact that arguably housing is more useful than yet another supermarket and would also be more beneficial/less harmful to other retailers in the vicinity.
    Whenever I visit my son who lives just off Jamaica Rd in Bermondsey I'm struck by the number and variety of food and other shops I go past in the 5 minute walk from the tube station. A supermarket would occupy much more space to offer less.
    He's in the process of selling one flat and buying another at the moment so I'm very aware of the horrifying figures involved in putting a roof over one's head.
  • Slosh
    Slosh Member Posts: 3,194
    edited 30. Nov -1, 00:00
    Definitely better than another supermarket. I'm with you on liking the wonderful mix of people in London. Hope your son is successful in looking for somewhere to buy.
    He did not say you will not be storm tossed, you will not be sore distressed, you will not be work weary. He said you will not be overcome.
    Julian of Norwich
  • barbara12
    barbara12 Member Posts: 21,281
    edited 30. Nov -1, 00:00
    We have land nearby that they apparently own...that is now for sale for housing..but like someone said hopefully they will be affordable, somehow I think not..but at least it wont be another Te*co
    Love
    Barbara
  • frogmorton
    frogmorton Member Posts: 29,790
    edited 30. Nov -1, 00:00
    I didn't hear this....

    is it only in the capital I wonder? Hopefully not as there seems to be a housing shortage everywhere.

    I imagine T*sco need to raise revenue with their 'losses' this year.

    I wish 'they' would recycle existing housing stock a bit better as well though. Here they are still 'trashing' gorgeous land for more houses :(

    Love

    Toni xxx
  • tkachev
    tkachev Member Posts: 8,332
    edited 30. Nov -1, 00:00
    Tesco have decided that selling the land for housing is more profitable than keeping it or building new stores and of course they are experiencing their own financial issues.

    I think it is nationwide Toni.

    Elizabeth x
    Never be bullied into silence.
    Never allow yourself to be made a victim.
    Accept no ones definition of your life

    Define yourself........

    Harvey Fierstein
  • daffy2
    daffy2 Member Posts: 1,636
    edited 30. Nov -1, 00:00
    http://www.bbc.co.uk/news/business-34528959

    This has the story and a list of the sites involved.
  • frogmorton
    frogmorton Member Posts: 29,790
    edited 30. Nov -1, 00:00
    Thanks Elizabeth and Daffy :)

    Love

    Toni xxx
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