Tesco opens up space for thousands of new homes

As investors and property specialists, we are all aware of the current housing crisis in London, but there are some promising developments taking place that signal new opportunities both for investors and for prospective tenants and home buyers.

This month, it has emerged that Tesco has sold off the sites of 14 unused and derelict stores across London and the South East for a total of £250 million to the property investment firm Meyer Bergman, freeing up the space for thousands of new residential properties to be built. Tesco have stated that this is because they want to concentrate time and resources on improving their existing stores, rather than opening up new ones. There is already planning permission in place for some of the sites, including ones in Barnet and Kensington. It is thought that altogether there could be around 10,000 new homes built on the land.

Investors have always bought up properties which are in need of care and attention, as these kinds of properties can often be bought for an affordable price and then sold on for a significant profit once they have been renovated and improved. If you are also looking into purchasing an unused or derelict property and renovating or altering it into a potentially lucrative property, we are the team you can rely on for help and guidance every step of the way.

We will help you to come up with strategies to maximise your returns from the investment; for example, some properties may make more sense as houses in multiple occupation rather than as single dwellings. With our assistance, you can explore every possible avenue for profit and make the most of your available resources.

We can not only help you through purchasing your property and getting it ready for inhabitants, but can also provide full and comprehensive property and estate management in Lewisham, Barking and Dagenham, Sutton and all other London boroughs. No matter how large or small your portfolio, we will be on hand to help you manage it effectively.