Tesco to outline plans for property

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Tesco to outline plans for property
The UK’s biggest supermarket group Tesco is expected to announce plans on how it will generate cash from its property portfolio, which could allow a substantial return to shareholders. Tesco's UK property is estimated to be around £6 billion and its holdings worldwide could amount to £13 billion.



Tesco has not released any details on its plans, but Tesco CEO Terry Leahy is expected confirm that the retailer is looking at ways on how to release value from the Tesco estate. In the past Tesco, which is due to announce its 2005 results tomorrow, has favoured joint venture sale and leaseback deals. Its most recent deals have been with property group Topland and entrepreneur Vincent Tchenguiz, with both deals worth around £1 billion. This week analysts expect Tesco’s 2005 profit results to reach £2.2 billion, confirming its dominance in the UK supermarket sector.

Published 24-04-2006 (13:18)

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