Thursday, October 30, 2014

News: ISG finishes new Rotherham Tesco

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ISG, the international construction services company, has completed the external construction works for the new £40m Tesco Extra store in Rotherham town centre, two weeks ahead of schedule.

The development, on a five-acre site that had been home to a number of council buildings, will see Tesco open 66,000 sq ft of retail space on November 13.

South Yorkshire's largest property investment deal for the past two years saw developers TCN UK Ltd, bring forward the superstore, which also includes 540 parking spaces, and a petrol filling station.

Moving from the current Tesco store on Forge Island, the new store will create an additional 36,000 sq ft of floorspace which is split into 14,000 sq ft of convenience and 22,000 sq ft of comparison goods. The plans stated that the additional floorspace will allow a greater range of products such as clothing, books, CDs and household electrical goods to be sold from the new store.

ISG secured the £19m contract to build the new store in 2013 and the project also included £4m worth of public realm improvements and massive revisions to road and utilities infrastructure.

ISG's construction team recently handed over the store to its own retail team to commence the fit out works inside. A spokesperson for ISG, said: "By working collaboratively, we have provided a one-stop service for developer TCN and its customer Tesco. The fit out will be completed in November ahead of the new store opening."

The adjacent petrol filling station site was also handed over seven weeks early.

Across town, Rotherham Council is continuing arrangements for the strategic acquisition of the vacated Forge Island store, which could include a purchase and sale to a third party. The council has an option to buy the site for £1.5m and the short term plan is to operate the site as a car park.

The new Rotherham store is one of only two large format Extra stores that Tesco plans to open in the rest of this financial year. Controversial plans for a large store in Margate have been scrapped and other sites have been mothballed as it reassesses its strategy under new chief executive Dave Lewis.

Last week, Tesco revealed that first-half profits dropped by 92%, to £112m and the Serious Fraud Office has launched a formal criminal investigation into accounting practices at the UK's biggest retailer after it overstated profits by £263m.

Tesco website
ISG website

Images: ISG

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