Henley Investments has sold a Tesco supermarket in Hayes, west London to Realty Income Corporation for £70m.
The Rasmala Group has bought a Tesco superstore in Hattersley, Manchester, for £28.6m.
Who would have thought ahead of this terrible pandemic that as a result of structural adjustments to the grocery trade, UK supermarket impairments would be written back to the tune of a quarter of a billion pounds in the case of Morrisons and Tesco UK alone?
Logistics is booming, thanks in no small part to the year-long pandemic and people switching to buying online. This is fuelling demand for warehouses to store our future online purchases. Grocery shopping alone in the UK was trending at around 7% pre-pandemic and is now at around 14%.