Acquisition and disposal of corporate real estate: some UK evidence

Examines property acquisition/disposal decisions of UK retailers within the context of the financial objectives of the firm. Contrasts the financial structure of a “net property disinvestor” with that of a “net property acquirer” using both univariate tests and logistic regression modelling. Evidence is consistent with the growing emphasis that real‐estate strategies (which include acquisition and disposal decisions) should be evaluated at the strategic level of a non‐property company.