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.
An award-winning journalist and editor, with two decades of experience covering the motor retail industry, and accredited by the Institute of Leadership and Management (ILM) plus the National Council for the Training of Journalist (NCTJ)
As editor of AM since 2016, Tim is responsible for its media content, planning and production across AM's multiple channels, including the website, digital reports, webinars, social media and the editorial content of AM's events, Automotive Management Live and the AM Awards. His focus is on interviewing senior leaders of franchised dealer groups and motor manufacturer national sales companies to examine latest developments in UK motor retail.
iceage - 06/12/2012 15:01
So does this mean that they proper skint then?