PSA Peugeot Citroen has completed a sale and leaseback of nine UK properties, mostly dealerships, to raise £29.9m.
The properties were bought by CBRE Global Investors and leased back for a duration of 15 years.
They are:
Coventry (Herald Avenue)
Brent Cross (Edgware Road, Staples Corner)
Birmingham (Tyburn Road, Erdington)
Guildford (Hurtmore Road, Godalming)
Edgeware (High Street)
Croydon (Brighton Road)
Manchester (Windsor Street)
Coventry (Kenpas Highway)
Sale (Washway Road)
This deal occures within the programme of real estate assets disposals announced by the French car manufacturer last February.
In this transaction, Society Generale Corporate & Investment Banking and Wragge & Co acted as advisors to PSA Peugeot Citroen.
Osborne Clarke and Griffiths Eccles LLP advised CBRE Global Investors.
As editor, Tim is responsible for the media content, planning and production of AM's multiple channels (AM print and digital magazines, website, social media and contributing to our events planning). He interviews and writes about as many franchised dealer groups and UK divisions of motor manufacturers as possible, to explore the issues facing UK motor retail and understand what solutions dealers and suppliers are using to overcome these.
iceage - 06/12/2012 15:01
So does this mean that they proper skint then?