Every little no longer helps!

[Paul Mobbs]

I think the meaning of this will be lost on the media. If Tesco no
longer believes it can expand its market share, and so is cutting back
its development programme by such lengths, then its an indication that
the UK consumer market generally has stalled.

P.


http://www.planningresource.co.uk/news/1178750/tesco-scraps-plans-develop-100-sites/

Tesco scraps plans to develop more than 100 sites

Ben Cook Wednesday, Planning Resource, 17th April 2013


Supermarket chain Tesco has announced that it has identified more than
100 sites in its property portfolio that it no longer intends to develop
as they are 'not viable'.

As Tesco announced its preliminary results for 2012/13 – which showed
its group trading profit had fallen 13 per cent to £3.5 billion – the
supermarket revealed that it had assessed the sites’ "viability and
potential to deliver an appropriate level of return on capital" and
consequently decided not to develop them.

A statement from the supermarket said the majority of the sites had been
bought between five and ten years ago at a "higher point in the property
cycle".

The statement said: "We have reviewed all of the schemes included in the
pipeline individually, assessing their viability and potential to
deliver an appropriate level of return on capital employed if built out.
As a result, we have identified more than 100 sites which we no longer
plan to develop and have therefore written their values down."

Tesco was asked by Planning to provide a list of the 100 sites but had
yet to do so at time of publication.


-- 

"We are not for names, nor men, nor titles of Government,
nor are we for this party nor against the other but we are
for justice and mercy and truth and peace and true freedom,
that these may be exalted in our nation, and that goodness,
righteousness, meekness, temperance, peace and unity with
God, and with one another, that these things may abound."
(Edward Burrough, 1659 - from 'Quaker Faith and Practice')

Paul Mobbs, Mobbs' Environmental Investigations
3 Grosvenor Road, Banbury OX16 5HN, England
tel./fax (+44/0)1295 261864
email - mobbsey at gn.apc.org
website - http://www.fraw.org.uk/mei/index.shtml
public key - http://www.fraw.org.uk/mei/mobbsey_public_key-2013.asc

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