Standard Life Investments has acquired a Tesco's superstore in the UK town of Congleton for £21 mln (EUR 26 mln). The transaction was carried out on behalf of the £300 mln Standard Life Investments UK Property Fund.
Standard Life Investments has acquired a Tesco's superstore in the UK town of Congleton for £21 mln (EUR 26 mln). The transaction was carried out on behalf of the £300 mln Standard Life Investments UK Property Fund.
The Tesco superstore is located on a main arterial route though Cheshire, 24 miles south of Manchester and 10 miles north of Stoke on Trent. The property comprises a supermarket of 4,384m2 with ancillary areas of 172 m2 in addition to 300 car parking spaces.
The site is leased to retailer Tesco for an initial 20-year term.
Strutt and Parker advised Standard Life Investments, with Morgan Williams acting for Tesco.
