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Sale of abandoned Tesco sites promises new lease of life

Tesco abandoned plans to extend its store on South Road in Cupar.
Tesco abandoned plans to extend its store on South Road in Cupar.

New retail development is on the cards for two Fife towns following the sale of land by Tesco.

The supermarket giant has disposed of sites in Cupar and Cowdenbeath.

New owner London & Scottish Investments said both plots of vacant land would likely be used for mixed retail.

It also expects a significant jobs boost from the developments.

The Glasgow-based property development firm hopes to meet with Fife Council chiefs to discuss potential uses for the land.

The sites are among 14 across Scotland to be sold by Tesco, including in nearby Dundee.

London & Scottish Investments group development director Bryan Wilson 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 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.”

Tesco confirmed at the start of the year that it had shelved plans to use land adjacent to its South Road store in Cupar to build a larger superstore.

Plans for a new store at Cowdenbeath’s North End Park were dumped at the same time.

The sales were welcomed in both towns and hopes expressed by local councillors that new developments would benefit those living in the area.

London and Scottish Investments did not disclose the value of the transaction.