Times reports on supermarket giant's plan to take advantage of 10% rise in house prices since last April
Tesco is planning to develop four ‘mini-villages’ in the South-east of England along with 'mixed-use living' and leisure schemes in Ipswich and North-east England.
According to a report in today’s Times, the supermarket giant is planning to build scores of homes and taking advantage of the house market recovery which has seen prices up about 10% since last April.
Sites earmarked for the ‘mini-villages’, first reported in Building last week as retail-led, mixed-use schemes, include Bromley-by-Bow in east London, Dartford in Kent, Streatham in South London and Woolwich in south-east London.
Lambeth Council has already given the go ahead for it to build 200 homes, a bus depot and ice rink in Streatham and it is expecting approval next month for the 400 homes, primary school, hotel and park that it plans to build in Bromley-by-Bow, close to the Olympic Park.
It is also in advanced talks with Dartford Borough Council over a development of around 1,000 homes. It is finalising the details of 900 homes in Woolwich.
Spen Hill, the supermarket’s development arm, is also introducing the “mixed-use” model of leisure, shopping and living facilities to other areas. Consent has been granted for a scheme in Ipswich that will include flats and it is also understood to be in talks with councils in Gateshead and Sunderland.