Get Clubcard Points When You Buy Your Next New House!
Property week is running the headline – “Tesco Home Delivery” and the Telegraph is running a similar story with “Tesco to build 4,000 homes instead of Supermarkets”.
I don’t think the property industry should fear Tesco won’t be building Supermarkets – I am sure they will but they will just be a lot fewer and will be different sizes. Just no more superstores I don’t think.
What is interesting is this diversification of a company into the property arena and a sector, housing where it has had limited experience. Some would say Tesco had no experience of Banking either but that didn’t stop them!!
Plans to build houses directly is something others have been doing for a year or 2 now – St Modwen springs to mind. Perhaps it is something that a few others should think seriously about too, those who have a land bank that they cannot do anything with at the moment – perhaps National Grid, Royal Mail or Carillion? With some of the major Life Funds more actively looking to invest in residential property, the landscape of house building, funding and ownership has to evolve and change.
If Tesco can potentially build 15,000 homes on land they own it shows that there is an untapped land resource out there, not in the wrong hands but in the hands of some who need better skillsets to unlock it.
For advice on unlocking value and planning potential from your property contact one of the Planning Team at Harris Lamb.