LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park

http://www.wilkinsonwilliams.co.uk/

LaSalle Acquire Tesco Foodstore Adjacent Oxford Shopping Park

HSBC, a client fund of LaSalle Investment Management acquired the Tesco supermarket adjacent to its existing Oxford Shopping Park for a price of £35.959m reflecting a net initial yield of 4.9%, an equated yield of 5.6% and a reversionary yield of 7.81% based upon the assumed RPI uplifts throughout the term from Tesco. The property is let to Tesco Stores Limited with a guarantee from Tesco PLC for a period of 20 years from completion subject to a tenant’s option to extend the term for up to an additional 30 year term at a rent equating to £25.00 per sq ft. The supermarket extends to approximately 65,000 sq ft together with surface car parking for 510 customer cars. Wilkinson Williams acted for LaSalle.

Frankfurt property market in freefall

Frankfurt property market in freefall
BY EDWARD HARRISON / ON 26 AUGUST 2008 AT 13:00 /

As far back as May, I had warned that commercial property was destined for a bust — collateral damage in the real economy. In particular, I mentioned the U.S. commercial real estate (CRE) market as a particular problem for local and regional banks, which have large exposure to the CRE market. In May, I also mentioned incipient declines in the London commercial property market.

http://www.creditwritedowns.com/2008/08/frankfurt-property-market-in-freefall.html

Tesco sells 13 stores and a depot for £600m to fund expansion plans

http://www.guardian.co.uk/business/2008/aug/22/tesco.supermarkets

Tesco sells 13 stores and a depot for £600m to fund expansion plans

· Deal is part of five-year plan to raise £5bn
· Properties leased back with rents linked to RPI

Julia Finch, City editor
The Guardian, Friday 22 August 2008

Tesco is selling 13 stores and a depot to raise cash to fund expansion. The supermarket group has agreed sale and leaseback deals with property investors to raise more than £600m to fund growth.