Tesco withdraws from Derby's Debenhams site negotiations

TESCO says it is committed to bringing its largest style of store to Derby – but has not yet agreed on a suitable site.

The news comes after the supermarket giant confirmed it was no longer interested in developing the former Debenhams site in Victoria Street.

The firm said the reason it withdrew from buying the site was because its plans had become too costly and access would have been difficult.

The store was planning the wider development of the site, not just the Debenhams store but incorporating surrounding land in the Becket Well area.

A spokesman for Tesco said costs were soaring into many millions of pounds and would have made the scheme one of the firm's most expensive.

He said: “There were quite a few difficulties working out the access and, with the costs, we shelved those particular plans.

“However we are committed to coming to Derby with a larger store and we are now working out where that should be.”

Tesco could not confirm what sites it was interested in but said the type of store it wanted to build was its Tesco Extra – a full-size hypermarket which sells electrical and homeware goods with food.

Derby commercial property agent Russell Rigby said: “While it's disappointing the Becket Well area has lost its anchor retail operator, there are still opportunities to regenerate that side of the city centre around Debenhams.

“I know Tesco are very serious about acquiring land in central Derby.”

The future of the Debenhams site, meanwhile, remains undecided.

It is owned by Westfield, which said there were still a number of parties interested in buying it.

A spokeswoman said: “We cannot say any more because of the commercial sensitivity.”

Developer Peter Gadsby is one of those interested in the site. He not available for comment today.