September 16, 2013
Tesco has completed the sale and leaseback of its 61,500 sq ft superstore in Perth to clients of LaSalle Investment Management, for a total consideration of £26.35m.
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 4.35%.
Morgan Williams acted for Tesco. James Barr and Eric Young & Co acted for LaSalle.