Terrace Hill’s store of news

PROPERTY developer Terrace Hill, which is controlled by oil tycoon Robert Adair, yesterday hailed “significant milestones” in three of its projects.

The Glasgow-based firm has sold a supermarket at Whitchurch in Shropshire to Sainsbury’s and has started building a further store for the chain at Wessington Way in Sunderland.

The Aim-quoted group has also been given the go-ahead to construct a shop for Asda at Skelton in Cleveland. Work is due to start next month with the opening scheduled for early 2013.

Philip Leech, chief executive at Terrace Hill, said: “We are making strong progress across our existing portfolio of foodstore developments sites and there are a number of new opportunities within the foodstore sector that we expect to contract on during the course of the year.”