Property firm London & Scottish Developments is on course to deliver 2,000 jobs across Scotland through the revamp of 14 former Tesco sites it bought last year.
Bryan Wilson, development director, said the company is breathing new life into ten dormant properties it bought from the retailer and letting them to new occupiers including Aldi, Lidl, Home Bargains and M&S.
The end value of the ten retail developments – in Aviemore, Cowdenbeath, Crieff, Cupar, Dalkeith, East Kilbride, Kilmarnock, Paisley, Springburn and Thurso – has been estimated at more than £100 million. Construction work is set to begin early next year, subject to final planning permission.
Four other Tesco sites, at Coatdyke, East Kilbride, Kilmarnock and Paisley, have been sold to housebuilders that are aiming to deliver more than 300 new homes.
Wilson said: “This has been a hugely complex portfolio to deliver, involving working simultaneously with over a dozen local authorities on a wide variety of planning issues. But in many ways it has been one of the most satisfying challenges we have taken on.
“Essentially we are giving some of the country’s biggest retailers access to communities they have identified as key development locations for their businesses, but have been unable access through lack of suitable sites. At the same time we are meeting the aspirations of local communities for big brand name retailers on their doorstep.”