Sainsbury’s has completed a £191m sale and leaseback deal on four of its distribution depots.
The four sites are:
All four deals have been secured on 25 year leases to Sainsbury’s with an average yield of 5.74%. The move forms part of Sainsbury’s plans to actively manage its estate to ensure it maximises the value of each property.
Sainsbury’s were advised on the deal by Cushman & wakefield. Kitchen LaFrenais Morgan advised BAE; Atisreal advised Canada Life; Morgan Williams advised Mutual Finance and CBGA advised Christian Vision.
Source: Property Week