Tesco in £366m property sale

Supermarket giant Tesco realised £366m (€524m) from its property estate today after agreeing a sale-and-leaseback deal involving 14 of its UK sites.

Tesco said the creation of a joint venture with Consensus, which is run by property tycoon Vincent Tchenguiz, would give it “further flexibility and firepower” to take advantage of opportunities in all parts of its business.