PSA Peugeot Citroën, through its UK subsidiaries Peugeot Motor Company PLC and Citroën UK Ltd, has sold in a sale-leaseback nine of its core UK real estate assets, for £29.9 mln (approx. 36.8 mln), to CBRE Global Investors on behalf of five clients.
The portfolio is made up of car showrooms strategically located throughout the UK. The lease duration is approximately 15 years.
This deal occurs within the programme of real estate assets disposals announced by the French car manufacturer last February.
In this transaction, Societe Generale Corporate & Investment Banking and Wragge & Co acted as advisors to PSA Peugeot Citroën. Osborne Clarke and Griffiths Eccles LLP advised CBRE Global Investors.