Tesco’s new c-store will be next door to a Sainsbury’s

Tesco has received approval to open a new Express store in one of London’s most sought-after locations - and next door to one of its main rivals.

The retailer is planning to open the store opposite the main entrance to London Waterloo Station. As well as attracting millions of rail commuters and tourists each year, Waterloo is also a rapidly growing residential area.

The store, which opens later this year, replaces an Indian restaurant. It is next door to a Sainsbury’s Local, which was Sainsbury’s first store in the SE1 area when it opened 11 years ago.

There is already fierce competition in the area between the two retailers. Just last year Sainsbury’s opened a c-store opposite a Tesco in Great Suffolk Street, also in SE1.

Tesco’s latest store is just 360 metres away from a soon-to-open branch in The Cut and 380 metres from another in Baylis Road. Sainsbury’s has three stores serving the area in less than a mile radius.

Earlier this month Sainsbury’s admitted the emphasis on key locations like London was making the battle with rivals even more competitive. But it claimed there still was plenty of scope for further expansion.

“Securing sites has become increasingly competitive, but with fewer than one in 10 of the population living within a 15-minute walk of a Sainsbury’s Local, there is plenty of opportunity for us to grow, creating jobs for local people and helping revitalise high streets,” it said.