Tesco Welling

Welling, Kent

A major retail foodstore of 75,000 sq.ft. gross internal with basement car parking (256 spaces), and 64 flats in a courtyard arrangement on the upper parts. Foodstore pre-let to Tesco Stores Ltd and the residential pre-sold to Hyde Housing Association Ltd.

Albourne acquired Embassy Court shopping precinct in 2004. Comprising 20 unit shops, a small foodstore and 10 flats, on a site of approximately 2.5 acres, the precinct was run down and 75% vacant. Intensive asset management resulted in the restructuring of long term leases, and the letting of all vacant units, increasing rental income by c300%.

Planning consent for redevelopment was secured in August 2007, and a 20m construction contract issued September 2008. Completion of the £40m scheme took place November 2010.