UPDATE: Asda has just announced a major move to sell 24 supermarket stores and a depot, aiming to secure £568 million to strengthen its financial position. This urgent decision comes as the UK grocery giant continues to tackle its significant debt.
In a bid to improve its financial health, Asda will lease back the properties after the sale, ensuring that operations at all locations remain unchanged for employees. The announcement was made earlier today, November 20, 2025.
The sale involves two separate buyers: 10 stores and an Asda depot in Lutterworth, Leicestershire will be acquired by US investment firm Blue Owl Capital. Additionally, another 10 stores will be sold to Blue Owl’s joint venture with Supermarket Income REIT, while 4 stores will go to London-based DTZ Investors.
Under the terms of these deals, Asda will enter into 25-year lease agreements, with options to extend by an additional ten years. This strategic move is part of Asda’s turnaround plan under the leadership of CEO Allan Leighton, who is focused on revitalizing the company’s performance amidst challenges.
An Asda spokesperson commented, “Asda’s property strategy is centred on maintaining a strong freehold base while also taking a considered and selective approach to unlocking value from our estate where appropriate.” The company aims to enhance its operational control while realizing value from its assets.
Asda is also expected to report on its third-quarter trading and overall financial status next week. Recent reports indicate the retail chain is grappling with £3.8 billion in net debt as of the end of 2024, making this sale a critical step in its financial recovery.
This development is unfolding rapidly, and the impact on local communities and employees remains to be seen. Stay tuned for updates as Asda navigates these significant changes in its operational strategy.
