UK retail giant Tesco is in talks to sell a GBP400m (US$638m) portfolio of properties to a newly-formed investment company, according to reports.
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The company, to be called Index Linked Properties, is seeking to take advantage of the opportunities of the recent falls in the value of UK commercial property, the Financial Times reported yesterday (28 September).
It aims to acquire real estate assets at a low point in the cycle with leases that are linked to the retail prices index or that have other guaranteed uplift rent review mechanisms to provide greater certainty on future rental returns.
Tesco refused to comment when contacted by just-food today.
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