UK-based supermarket chain Tesco Plc. (TSCO.L, TSCDY.PK) Thursday said it has agreed the sale of fourteen Spenhill development sites across London, the South East and Bath, to a fund and clients advised by Meyer Bergman.
The transaction, worth 250 milion pounds, is for sites suitable for mixed-use and residential development. The deal marks further progress against Tesco’s strategic priority of protecting and strengthening its balance sheet.
Tesco and Meyer Bergman, the pan-European real estate investment manager, have reached completion on eleven sites, with the remaining sites due to complete in due course.