Tesco has sold fourteen development sites to property management company Meyer Bergman for £250m.

The sites were owned by the supermarket chain's Spenhill development arm and are based across London, the South East and Bath.

They are suitable for mixed-use and residential housing.

Both Tesco and Meyer Bergman have reached completion on eleven sites, with the remaining sites due to complete in due course.


Dave Lewis, Chief Executive of Tesco, said: "Since announcing our decision to build fewer stores we have been working with Meyer Bergman to bring forward investment on our Spenhill sites. We are very pleased to have agreed a deal with Meyer Bergman that will bring forward significant investment for these local communities, including opportunities for residential development."

Markus Meijer, CEO at Meyer Bergman, added: "We see this investment as an opportunity to give new impetus to the Spenhill projects, to make Tesco's place-making ambitions for the sites happen and to make an enduring contribution to local communities."

(LM/MH)