Tesco in commercial venture talks with Sunderland City Council

Tesco are in talks with Sunderland City Council to revitalise the ailing Sunderland Retail Park.

The supermarket chain plans to build a new store, along with other amenities, on the site which is currently blighted by a number of empty and disused units.

Tesco have an option to purchase Sunderland Retail Park from Mountview Securities and could submit a formal application for the scheme in the spring.

Nick Gellatly, corporate affairs manager at Tesco, revealed that the plans would be vital to the growth of the city.

"We have had positive discussions and although more detailed work needs to be done, we believe that our proposals for Sunderland Retail Park will be an important part of the regeneration of the city," he said.

"By rejuvenating the Retail Park with a new Tesco store along with improved access and facilities we will be providing much needed shops and will secure jobs for the area," he added.

Meanwhile, commercial property firm Parkridge have launched a £1 billion fund aimed at taking advantage of the devalued sector.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.