LondonMetric’s £62 Million Sale And Leaseback Of Five Waitrose Limited Stores

Dentons has advised John Lewis Partnership on the deal.

John Lewis Partnership executed the sale and leaseback of five Waitrose Limited stores to property investor LondonMetric for £62 million. The stores will continue to trade as normal, leased back to Waitrose Limited for 20 years with the option to extend for a longer period.

Located in Keynsham, Malmesbury, Paddock Wood, Towcester and Yateley, the stores range in size from 27,000 sq ft up to 43,000 sq ft and also operate as online fulfilment centres for both Waitrose Limited and John Lewis Partnership.

John Lewis Partnership PLC operates as a supermarket. The John Lewis Partnership is the UK’s largest employee owned business and parent company of our two cherished retail brands – John Lewis & Partners and Waitrose & Partners.

LondonMetric Property Plc is real estate investment trust that specializes in property investment and development. The Company’s segments are Distribution, Offices, Residential and Development.

Dentons has advised John Lewis Partnership with a team led by Deepa Deb (Picture), head of the UK Real Estate practice, assisted by associates Alexis Condie and Amy Smith.

Involved fees earner: Alexis Condie – Dentons; Deepa Deb – Dentons; Amy Smith – Dentons;

Law Firms: Dentons;

Clients: John Lewis Partnership;