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The transaction, which is subject to certain conditions precedent commensurate with the sale and leaseback being fulfilled, is expected to complete in July 2017.
Another advantage to a sale or sale leaseback is for the retailer looking for an existing strategy in selling the business.
We don't do sale and lease-back deals for various reasons" is Asda's only comment, while Morrisons says it has "no plans to do sale and leaseback at the moment", Both companies own 80% to 90% of their property portfolio freehold j I and could potentially free up a lot of capital to invest into new store openings.
Personal usage Leaseback property owners can enjoy the best of both worlds - guaranteed rental income and personal usage.
DTZ was recently involved in the sale and leaseback of a 570,000sqft distribution warehouse on behalf of Somerfield plc.
A number of leading retailers, including Marks & Spencer, Kingfisher and Tesco, have in the past successfully used sales and leaseback to raise capital.
A sale and leaseback may enable the shareholder to generate passive rental income to offset passive losses he or she may have.
After determining that a lease is a section 467 rental agreement, the tax consequences of the lease depend upon the type of section 467 rental agreement involved (disqualified leaseback or long-term agreement versus other rental agreements) as well as the amount of section 467 rent and section 467 interest provided under the lease.
Sale and leaseback secures the future of the Unwins Group under the current management team.
Four tests must be met for a leaseback to be considered valid.
The deal also included a leaseback to the Hudspeths.
M2 EQUITYBITES-December 17, 2014-Medical Properties Trust purchase and leaseback deal expected to close on expedited basis in Q1 2015