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Thursday, 21 August 2008 |
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Tesco has completed four sale and leaseback transactions involving £605m of property assets.
The supermarket said the deal formed the latest phase of its ongoing programme of releasing value from its UK property portfolio.
Four separate purchasers were involved:
• The Universities Superannuation Scheme
• PRUPIM
• LaSalle Investment Management
• Canada Life
The deals were structured on both a 100% sale and a joint-venture basis.
They included 13 Tesco stores, accounting for about 2.4% of the value of its UK stores portfolio, and a distribution centre.
The properties have a total floor space of more than 1.7 million sq ft.
All properties have been leased back to Tesco on leases linked to the Retail Price Index. 
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