Sunday, February 25, 2024
Landlords

UK’s largest supermarket chains to undertake residential development

Five of the UK’s largest supermarket chains are taking steps to develop thousands of homes, Inside Housing research has revealed.

Tesco, Sainsbury’s, Morrisons, Aldi and Iceland are all embarking on residential development programmes, the retail giants confirmed in response to an Inside Housing survey of the major chains.

Most of the development is focused in London as retailers seek to make the most of valuable property assets. Some are seeking joint ventures with house builders, while others are selling off their land for development.

“A new store can anchor new development and regeneration, making collaboration with house builders and developers a good fit for us,” said Ciaran Aldridge, corporate acquisition director at Aldi.

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