Tesco Stores
Retailer set to build 10,000 sq ft temporary store in carpark of flooded superstore, while Cumbria recovers from severe floods
Tesco is building a temporary store in the carpark of its flooded Carlisle superstore while the region continues to recover from devastating floods.
The retailer said work on the 10,000 sq ft temporary building should be completed by next Friday (18th December), local paper The News and Star reported, and will have standard store opening times.
All other Tesco stores across the county are open as normal, with the supermarket helping to provide free clean water and distribute ‘cages’ of supplies to those affected by floods. Cumbrian wholesaler A Stephenson has also been donating vegetable to the local town hall, which has been made into soup and offered to the community.
Tesco store director Shirley Turnbull told The News and Star: “I know that in the aftermath of something like this as the community starts to recover, it’s often simple things like somewhere to find basic supplies that can provide a little help.”
The news comes as Defra has released support packages of up to £20,000 for farmers who have been affected by Storm Desmond, to help restore damaged agricultural land.
Support funding is applicable for issues including restoring productive grassland or horticultural land, restoring farm vehicle access or repairing agricultural drainage.
Farming minster George Eustice also announced that the Rural Payments Agency will not carry out inspections in the flooded areas and increase flexibility when inspecting those affected.
He said: “We understand flooding can have serious consequences for farmers and we want to provide practical support to those affected by last weekend’s unprecedented rainfall in Cumbria and North Lancashire.
“The new Farming Recovery Fund will help to cover farmers’ short-term uninsured recovery costs, such as repairing damaged soils, tracks and flood channels. We will pay out on all eligible applications and we hope it will offer some relief at this challenging time.”
More rain is forecasted for the Cumbria and North Lancashire regions this weekend, with 13 flood warnings in place.
CEO of Tesco, Dave Lewis says move is ‘aimed at insulating more of our businesses from indexed rent reviews’
Tesco has regained sole ownership of 21 superstores in a transaction with British Land.
The agreement comes as Tesco aims to strengthen its core UK business.
The 21 superstores and associated debt were part of a joint venture between Tesco and British Land, and were all subject to RPI-indexed rent increases.
In exchange for the superstores, British Land will take over Tesco’s stake in three shopping centres, three retail parks and three standalone stores which are held in two joint ventures between the two companies.
Tesco will continue to lease the stores at these sites at market rents which are not subject to RPI-indexed increases.
As part of the transaction, Tesco will also receive £96 million from British Land.
Dave Lewis, commented: “Last year we identified the opportunity to increase the proportion of our stores we own as freehold. This transaction with British Land allows us to increase our ownership and thereby insulate more of our businesses from indexed rent reviews.
“We have a long way to go but it’s a transaction which takes us in the right direction. This agreement makes our business simpler and stronger.”