Tesco has announced plans to increase its consumer reach in the UK even further by developing four “mini villages” in the South East of England.
These “mini villages” will be created using a model which incorporates living and leisure facilities, with houses being built alongside amenities such as a library, a civic centre and within close proximity of a Tesco store.
Craig Hallam, new homes director for Badger Holdings, parent company to Townends and Regents estate agents, said: “This innovative approach from Tesco needs to be applauded, as clearly the lack of funding from banks to house builders right now means that there is a definite shortage of affordable new build homes right across the UK. I suspect that picture will continue for some time, so a new company coming into the house building arena with funds to develop, is a very, very welcome forward move for the housing market.”
Fears that the grocer is looking to establish a lifestyle monopoly in the UK could be compounded by the move said Hallam. But he added: “Too many existing communities have limited or no access to local goods and services, so the concept has to be welcomed.”
He cauitoned however that problems would arise if the availability of properties was restricted to Tesco customers.
“That may be difficult to prove when they have their own estate agency distribution, and mortgage funding, so the questions to pose will be ‘can I buy a property if I’m not a Tesco customer?’, ‘can I buy a property from you without having to take your mortgage products?’, and ‘how will I find out about the developments?’” said Hallam.
Comments
first they monopolise the farmers, then kill the local community by putting independent traders out of business, gradually become the high street under one branded roof and now there planning to build towns and finance the purchase of the homes. Oh dear, could it be Tesco's are actually aliens quietly taking over the world! Certainly feels like it.