London & Scottish Investments Ltd (LSI), a Glasgow-based investment, development, and property asset management company, has today announced a deal to purchase a package of 14 vacant sites from Tesco. The sites are located across Scotland and will be developed by LSI for a mix of retail and residential uses.
The sites are located in East Kilbride, Paisley (Renfrew Road and Love Street), Crieff, Aviemore, Cupar, Cowdenbeath, Thurso, Dundee, Kilmarnock, Larkhall, Coatbridge, Dalkeith, and Glasgow. They had previously been acquired by Tesco for potential store development which has not progressed as planned.
Bryan Wilson, Group Development Director at London & Scottish Investments said: “We are delighted to announce this purchase, which is fantastic news for the towns involved. We now look forward to meeting with council leaders and planning officers from all the local authorities involved, to discuss and review our plans for the economic redevelopment of these sites. We have had discussions with a range of potential tenants that wish to occupy the proposed new developments, and we would expect that a significant number of jobs will be created as a result.”