Agreement of sale and leaseback of certain Asda store assets 

Asda today confirms that it has reached a sale and leaseback agreement on 24 stores and its Lutterworth depot with two separate buyers.  

The key elements of these transactions are:  

• Four stores (Small Heath, Colindale, Coventry Abbey Park and Killingbeck) have been sold to DTZ Investors and leased back. 

• Twenty stores and the Lutterworth depot have been sold to Blue Owl Capital and leased back. 

• These transactions have raised a total of £568 million. 

• All properties are subject to 25-year lease agreements, with a contractual option to renew for an additional 10 years at each renewal point. 

• Asda will continue to operate all sites as normal, with no changes for colleagues working in these locations. 

An Asda spokesperson said:  

“Asda’s property strategy is centred on maintaining a strong freehold base while also taking a considered and selective approach to unlocking value from our estate where appropriate. These transactions reflect that approach, enabling us to realise value from the sites while retaining full operational control.”