Tesco has secured the latest international deal designed to unlock value from its vast property empire.

The supermarket giant has agreed the sale and leaseback of four stores in South Korea operating via its Homeplus local subsidiary.

A consortium of investors led by IGIS Asset Management bought the stores for around £300m.

Homeplus notched up sales in South Korea of more than £5bn in the previous financial year and has 450 stores in the key Asian market.