ICG Real Estate (“ICGRE”), the real estate division of global alternative asset manager, ICG, today announced that it has signed an agreement to acquire a portfolio of 24 grocery stores from global grocer, Lidl. ICGRE will acquire the portfolio on behalf of its Strategic Real Estate II Fund (“SRE II”) for a purchase price of €203.5 million, with each asset to be subsequently let to Lidl on a long-term, triple-net lease.
The portfolio, totalling c. 50,000 square meters, is composed of 17 UK assets, four Irish assets and three Spanish assets, each of which is between c. 1,780 and 2,325 square meters in size. The stores are currently at various stages of construction, with ICGRE committing to forward purchase each newly developed Lidl store upon its practical completion. The first acquisition completed in October 2025, with the final purchase set to occur in July 2026.
Lidl is the world’s third largest grocer in revenue terms, generating revenue of €88.6bn and EBITDA of €5.5 billion in 2024, with over 12,000 stores across more than 30 countries. The non-discretionary grocery sector continues to exhibit growth and resilience, with Lidl’s value proposition providing strong downside protection through macro-economic turbulence. This transaction allows the grocer to recycle capital into its core business, thereby supporting its growth strategy.
Source: icgam.com on 20 November 2025
https://www.icgam.com/2025/11/20/icg-real-estate-agrees-to-acquire-e200m-european-grocery-store-portfolio-from-lidl/