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UPDATED: PSA Peugeot Citroen raises £30m in property sale

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.

 

 

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Comments

  • iceage - 06/12/2012 15:01

    So does this mean that they proper skint then?

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    • A dealer - 07/12/2012 00:11

      @iceage - oh yes....but all Psa dealers are!!!

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    • Another dealer - 08/12/2012 00:16

      @A dealer - We are doing very well thank you with two Citroen dealerships. You just have to work a little harder and smarter these days.

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