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Providing strategic transactions’ advice on store disposals prior to and during administration.
Prior to Woolworths being placed in adminis tration, Jones Lang LaSalle was instructed to present a strategic overview of its property hold ings with the objective of raising capital from marginal stores. Over a two-year period we raised over £70 million of funds through the sale or surrender of 27 leasehold interests. This value was driven by demand from Waitrose, M&S, New Look, Hennes, Tesco and Boots, and these transactions were concluded ‘off market’. Going into administration, Jones Lang LaSalle was then appointed by Deloitte and Hilco to act jointly in the group package sales of all the Woolworths’ leasehold interests. Transactions were negotiated and completed with Iceland, B&M, Home Bargain and Tesco, amongst others.
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