Tesco has announced the latest in a series of sale and leaseback arrangements designed to free up cash from its vast property portfolio.

The supermarket has sold 10 existing stores and one further site under development in a deal worth at least £450m.

It marks the fifth such sale by Tesco since 2009, with the previous four deals having released funds totalling £2.6bn.

Yesterday new data from Kantar Worldpanel revealed that Tesco’s market share had fallen below 30% for the first time since May 2005.