8 8 The Shop Window Supermarket


buy-back nets Aviva Investors £58.83m


Aviva Investors has completed the sale of a 165,487 sq ft Tesco store in Chesterfield for £58.83m.


The store – which had 11 years unexpired on its lease at a current rent of £5.034m – was acquired by Tesco.


Tom Edson of Colliers’ Retail Capital Markets Team – which advised Aviva Investors on the sale – comments: “Of the major UK supermarket operators who have used buy-backs to reduce their property exposure, Tesco has been the most active.


“By 2014, the company’s UK rent bill had risen to around £1.4bn and since then it has moved to reduce this impact on cashflow.”


tom.edson@colliers.com | +44 (0)20 7344 6554


Browse | Q4 2019


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