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Broadlands in Romsey has announced that six acres of the 4,500 acre estate will be leased to Tesco for development of a new supermarket - if it gets planning permission.
Broadlands Director of Estates Richard Jordan-Baker said the agreement would provide both crucial financial security for the house and estate as well as substantial long-term employment and economic benefit for Romsey as a result of Tesco?s investment in the local community.
"We recognise, and are proud of the fact, that Broadlands is an integral part of Romsey and our role is to protect its future.
"The fact is the cost of maintaining an estate of this size and stature is extremely expensive and rising every year.
"While the estate is diverse as a business with residential lettings, commercial tenants, investments and, of course, a series of high profile events these alone do not ensure financial stability.
"Our agreement with Tesco will help to provide financial security and the ability to continue with our investment programme in the estate."
Tesco Corporate Affairs manager Simon Petar said:
"Tesco is delighted to confirm that it has reached an agreement with the Broadlands Estate to acquire a development site south of the bypass in Romsey.
"We are very much looking forward to working with the community in Romsey to fully explain our plans, over and above the benefits that the store and its associated jobs would bring."
The proposed supermarket would create approximately 200 jobs. Should the application be successful, Tesco says it will work with Job Centre Plus to ensure most of them go to people living locally.
After on site surveys have taken place, a full public consultation exercise, including meetings with local stakeholders and an exhibition of the plans, will take place in the spring. The planning application is likely to be submitted to Test Valley Borough Council this summer.
Richard Jordan-Baker added:
"We will be working closely with all parties involved in the project and have already spoken to our tenants, the football club and other local stakeholders. This will of course be an ongoing process over the coming weeks and months."