LONDON & Scottish Investments has acquired 14 sites from Tesco which the retail giant previously earmarked for store development in Scotland.
The property asset manager did not disclose how much it paid for the sites, which are located in East Kilbride, Paisley, Crieff, Aviemore, Cupar, Cowdenbeath, Thurso, Dundee, Kilmarnock, Larkhall, Coatbridge, Dalkeith and Glasgow.
The Glasgow-based company aims to put the sites to a variety of retail and residential uses.
Bryan Wilson, group development director at LSI, 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.”
LSI, which has offices in Glasgow, London, Manchester and Leeds, has assets under management worth more than £500 million.
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