Tesco begins land sell-off in cost-cutting drive

Kasmira Jefford
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The sell-off is part of a plan to cut costs (Source: Getty)
Tesco has hired property advisory firm Savills to sell six development sites as part of plans announced earlier this year to cut costs.

Chief executive Dave Lewis said in January that he would halve capital spending and save £250m a year by axing 43 stores, shelving 49 projects and closing its Cheshunt head office.

The sites for sale include a £60m development in Wolverhampton, a six-acre site near Leeds city centre and a plot of land in Burton-on-Trent.

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