Tesco head of residential development Andrew Wilson has revealed the company's plans to build a 25 storey tower in Kensington in partnership with Multiplex. Tesco's planning application is currently under consideration, and the scheme, if approved, will result in the construction of 500 new units. Wilson was speaking at the annual Housing Market Intelligence conference. He considered the question of whether firms like Tesco entering the residential market represented competition or an opportunity for developers. "We don't intend to get involved in speculative development on a large scale," said Wilson. "But yes, we are very much a potential partner. We'll be looking for partners with whom we can share the risks - and rewards."