Tesco Express to open in Tower Bridge Road
Tesco is to open a new convenience store in the former Lloyds TSB bank premises on Tower Bridge Road.
The supermarket chain has taken a 20-year lease on the property – which is just south of the junction with Rothsay Street – paying an annual rent of £56,000.
The new store will compete with Sainsbury's Local at Bermondsey Square which opened in September 2008.
News of Tesco's arrival is unlikely to be welcomed by the many independent convenience stores which line Tower Bridge Road. One of the shop businesses has recently been advertised for sale at £119,000.
There is also a Tesco Express store at Empire Square in Long Lane and another new branch is opening in the former Woolworths premises at The Blue in Southwark Park Road.
Planning applications for Tesco's new shop frontage and signs in Tower Bridge Road have already been submitted to Southwark Council.
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