TESCO KIRKBY DEAL

Tesco complete purchase of Cherryfield Drive site in Kirkby.

Tesco plc and Development Securities plc have today announced that they have completed on the sale of Development Securities' land to the north of Cherryfield Drive in Kirkby to Tesco at the original price paid by Development Securities.

Following the sale, Tesco will continue to work in partnership with Everton Football Club to develop their £400 million proposals for 'Destination Kirkby', in close dialogue with local businesses, residents, the Council and other parties.

Commenting on the sale Michael Marx, Chief Executive of Development Securities said: "We regret our departure from Kirkby but this is the right decision for our business."

Michael Kissman, Tesco Corporate Affairs Manager said: "This deal ensures that the whole of Kirkby town centre can be included in the exciting regeneration plans of the 'Destination Kirkby' project. Our plans have always been about adding to the town centre, rather than replacing it, and this deals proves that point."

"A key priority will now be to meet the range of tenants on this site. We want to work with local traders to ensure this site benefits from the wider investment for new shops and an Everton stadium currently being considered by Knowsley Metropolitan Borough Council."

21 April 2008