Scottish Borders Council has withdrawn from its contract to sell the site at Pinnaclehill, Kelso, to Tesco.

This is as a result of the failure by Tesco to assemble the additional land required for both the supermarket development and the replacement employment land within the required time frame, in accordance with that contract.

In the light of expert external legal advice, the Council has therefore decided to remarket the site as soon as reasonably possible, offering the facility of a compulsory purchase order (CPO) to the successful bidder if required.

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Remarketing gives all interested parties a fair opportunity to bid for the Council's land. In doing so, this helps ensure that the Council meets its statutory duty to secure the best price reasonably obtainable for its land and to meet the requirements of the Local Plan to deliver a supermarket for Kelso.

Based upon independent valuation advice provided to the Council by the District Valuer, offers over £3.8m will be sought and the successful bidder would be required to deliver the supermarket development and replacement employment land as detailed in the Local Plan.

The outcome of the marketing exercise is to be reported back to the Council for a decision on who the successful bidder should be.

(GK/KMcA)