The UK’s largest supermarket company Tesco has announced that it is to raise around £650m (US$1.2bn) from a new UK property joint venture.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


As part of the deal, Tesco will sell 33 Tesco stores and two distribution centres, accounting for around 5% of Tesco property assets, to its joint venture with property group Topland.


Tesco said the venture would release funding for the company’s further growth whilst maintaining the flexibility to operate and adapt its property assets. 


Tesco finance director, Andrew Higginson, said Tesco would continue to operate the stores and decide on layout. The joint venture is for a term of 25 years with an option to review in 2011. Under the agreement Tesco’s rent liability will be subject to pre-agreed rents.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now