Asda has confirmed the sale and leaseback of 24 stores and its Lutterworth depot, raising a total of £568 million across two separate transactions announced on 20 November.
The retailer said four stores — Small Heath, Colindale, Coventry Abbey Park and Killingbeck — have been sold to DTZ Investors and leased back under long-term agreements. These locations will continue operating as normal under Asda’s control.
A second transaction covers 20 stores and the Lutterworth depot, sold to Blue Owl Capital and leased back on matching terms. Both deals form part of Asda’s ongoing property strategy, which balances freehold ownership with selective value-unlocking moves across its estate.
All sites are now subject to 25-year lease agreements, with options to renew for an additional 10 years at each renewal point. Asda confirmed that operations at all locations remain unchanged and that colleagues working in these stores and at the depot will not be affected.
In a statement, the retailer said its approach aims to maintain a strong freehold base while taking “a considered and selective approach” to realising value from its estate where appropriate. Asda added that the newly completed transactions allow the business to release capital while retaining full operational control of the stores and the depot.
The combined deals mark one of Asda’s largest recent property-related moves as the company continues managing and reshaping its estate structure. The supermarket continues to operate all 24 stores and the Lutterworth depot with no impact on customers or staff.
Editor’s Note: This article is based solely on information published by Asda on 20 November 2025.
