January 18, 2013
Tesco has completed the sale and leaseback of a 56,800 sq ft supermarket in Mickleover, Derby to AXA Real Estate Investment Managers, on behalf of the UK Long Lease Property Fund, for a total consideration of £26.25 million.
The property has been leased back to Tesco for a term of 25 years, subject to annual capped RPI increases. The purchase price reflects a Net Initial Yield of 4.38%.
Morgan Williams acted for Tesco, DTZ acted for AXA.