Supermarket land banks ''should be outlawed''

Tesco should be made to sell its undeveloped land in UK towns, according to rival supermarket chain Sainsbury''s.

The chief executive of Sainsbury''s Justin King says that land should be sold in areas of the UK where Tesco is already dominant and where no other large-scale food shop exists. He said that in sites where Tesco isn''t trading, it should not be allowed to hang onto land.

This comes after the UK''s Competition Commission said last month that concerns are growing over the land banks held by British supermarket chains like Tesco, Asda, Sainsbury and Morrison''s.

Justin King, speaking at a Retail Week conference in London this week, said: "I don''t think Tesco should be required to sell stores already trading, but sell sites in areas where it''s appropriate."

Buying land is one of the first steps on the road to building your own house and a building plot will cost around 35 per cent of the total budget of your new home.

Buildstore has an instore plot-finding service.


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