LONDON-Standard Life Investments has acquired Tesco store in Tiptree, Colchester. The company has purchased the 31,000-square-foot supermarket Essex on behalf of its UK Property Fund.
Standard Life bought the property from Tesco under a sale and leaseback agreement. The purchase price of the retail property was GBP 13 million. Tesco will lease the store for 20 years. In December 2011, the UK Property Fund bought Ascent Park in Harlow, Essex for GBP 9.97 million. For the full story, go to PropertyMall .
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