The properties are all well located, modern, trade retail properties and Jean-Charles Pauze, Chairman and CEO of Rexel Group, said : "This sale is in line with our policy of focusing capital employed by the group on their distribution business of electrical supplies."
Ashtenne has already undertaken sale and leaseback transactions in the UK with major corporates including Rolls Royce; William Baird; Marconi; Visco-Suisse and Corus, but joint Chief Executive Ian Watson said: "This is our first significant venture in Europe which will help us build experience and position Ashtenne to undertake similar pan-European transactions."
Nelson Bakewell and Lovells represented Rexel Group.
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