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Sainsbury's accused of 'devaluing house prices' in Kent village

Sainsbury's has been accused of 'devaluing house prices' in a Kent village after 'land-banking' undeveloped land.  - REUTERS
Sainsbury's has been accused of 'devaluing house prices' in a Kent village after 'land-banking' undeveloped land. - REUTERS

Sainsbury's has been accused of causing house prices to fall in a Kent village by "land-banking" sites and leaving them undeveloped.

Residents in Staplehurst, near Maidstone, claim the value of their homes declined after Sainsbury's purchased two commercial sites for a superstore and petrol station, but have yet to start work on them after six years.

Despite acquiring planning permission in 2013, the area remains boarded up and undeveloped.

Villagers have demanded action from the retail giant, as they say the empty sites are lowering property prices in the area.

Councillors have written to Sainsbury’s to say the boarded up plots are damaging the image of the village and its economic appeal.

It comes after warnings in recent years that supermarket chains are sitting on enough land to build thousands of homes, but won't build stores because they have become too unprofitable.

A superstore and separate petrol station were planned for the sites, which were purchased in 2011. - Credit: Toby Melville/Reuters
A superstore and separate petrol station were planned for the sites, which were purchased in 2011. Credit: Toby Melville/Reuters

In a letter to Sainsbury’s, the parish council said: "It has now become a big concern among our residents that not only is there no sign of any progress in building a supermarket, but also lack of progress is having a huge negative effect on the community.

"It is felt that the two sites Sainsbury's currently own in Staplehurst, incorporating the proposed supermarket and the proposed petrol station, are having a very damaging visual impact on the village and portraying a bad image of the village in an economic sense.

"We feel the situation is having a negative effect on commercial investment into the village and could be affecting house sales and house prices."

A Sainsbury's spokesman said the supermarket chain was“currently reviewing their options” for the sites.

A 2015 report revealed British supermarkets had purchased 46.61 million sq ft of land, with the intention of building new stores, but just 2.8 million sq ft was being built on.