NW stores in Tesco sale and leaseback deal
TESCO has sold two if its North West stores as part of a sale and lease back deal worth £109m.
The four stores, which will be sold to a PRUPIM annuity fund, are Northwich, Stalybridge, Hucknall and Tiverton.
Tesco said Initial yields were between 5.25% and 5.3%.
The transactions are the latest in Tesco’s ongoing programme to realise value from its property portfolio. Deals completed earlier this year include those with the Universities Superannuation Scheme, BA Pension Fund, La Salle Investment Management, PRUPIM and Canada Life.
