Construction News

24/01/2008

Tesco Sells Warehouse To Syndicate For €116m

An investment syndicate, assembled by accountancy firm KPMG, has made a deal worth €116m with supermarket chain Tesco.

The syndicate have bought the distribution warehouse that has just been built for Tesco at Donabate, Co.Dublin.

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The warehouse which covers 18 acres and cost €80m to build will be leased back to Tesco for 25 years.

As part of the deal Tesco will be allowed to extend its facilities or construct new buildings without the landlord's consent.

(GK/JM)

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