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AXA Grows in Retail With £38M Buy

PARIS—AXA has acquired a 44,230-square-foot supermarket and a 56,800-square-foot supermarket in Mickleover in an off-market sale / leaseback agreement with Tesco.

By David Phillips | Updated on January 18, 2013

PARIS—AXA Real Estate Investment Managers, has made the first acquisitions on behalf of the recently launched UK Long Lease Property Fund, with the purchase of two supermarkets for around £38 million in aggregate.  The Fund has acquired a supermarket let to Waitrose on the High Street in Sevenoaks, Kent, for £11.5 million, and a 56,800 square foot supermarket let to Tesco in Mickleover, Derby, for £26.3 million.

AXA, the leading real estate portfolio and asset manager in Europe1, with over €43 billion of assets under management as at September 2012, announces that it has made the first acquisitions on behalf of the recently launched UK Long Lease Property Fund, with the purchase of two supermarkets for around £38 million in aggregate. The Fund has acquired a supermarket let to Waitrose on the High Street in Sevenoaks, Kent, for £11.5 million, and a 56,800 square foot supermarket let to Tesco in Mickleover, Derby, for £26.3 million.

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