Asda prepares sale and leaseback across £8.6bn estate

Asda has launched a £8.6bn review of its property estate as its owners attempt to reduce its debt pile. Mohsin and Zuber Issa, backed by private equity firm TDR Capital, are targeting the sale and leaseback of Asda’s supermarket estate to help with soaring interest bills. Property experts have been drafted in to “assess the prospects for the supermarket’s estate”. According to Asda’s 2021 annual report, its freehold properties were valued at £8.6bn. It is understood that Asda’s owners will look to hold on to a “sizable underpin of freehold properties”. The Telegraph (£)