L+R were pioneers in the sale and leaseback markets and during 1997 to 2005 were one of the most active buyers in the market, transacting over c£3.5bn.
In 2001 L+R acquired 183 high street retail units let predominantly to Woolworths.
L+R saw an opportunity to buy a high quality portfolio of retail assets at an attractive discount to market value.
Purchasing a portfolio gave L+R an advantage to a discounted price, and break it up selling individually.