British Land sells off £429 million of Sainsbury’s Superstores

April 24, 2019

In a deal to appease the current brutal retail sector here in the UK, British Land has agreed to sell 12 Sainsbury’s superstores in order to tackle its sizeable retail assets and get the total that it owns down to 30% of their portfolio.

The purchase is coming in from Realty Income Corporation who are an American property investment firm. British Land has so far released £1 billion of retail assets since last April with further sales alongside Debenhams and Spirit Pubs to come.

British Land is said to be focusing its future investments within London office space and also the build to rent sector – They have been quoted as saying: “We have a clear view of the value of our assets and despite the clear challenges currently in the retail market, we remain opportunistic and proactive.”

Full story can be read on the This Is Money website.

EAN Breaking News

Breaking News. Have a new story to share with us? Then please get in contact today!

You May Also Enjoy

Letting Agent Talk

Dispelling the top five biggest letting agent myths

By Sophie Danes, Group Director of Property Management, Lomond   This year has seen the introduction of the seismic Renters’ Rights Act (RRA) as well as other changes affecting the private rented sector (PRS) coming into force, such as the rollout of Making Tax Digital (MTD). As a result, more than ever before, there is…
Read More →
bank of england interest rate
Breaking News

Bank of England Holds Interest Rates at 3.75%

Colleen Babcock, property expert at Rightmove says: “There’s stability for now as the Bank of England holds its Base Rate as widely expected. We’ve seen average mortgage rates increase over the last few weeks as geopolitical tensions have escalated, and the average two-year fixed rate is currently coming it at 5.11%. For broader context, this…
Read More →
New Builds 2020
Breaking News

Average new-build value to surpass £400,000

The latest research from UK Property Development has found that the average price of a new-build home in England is on course to exceed £400,000 by 2027, having risen steadily over the last decade alongside sustained growth across the wider British market. The research analysed average new-build house price data across Great Britain and its…
Read More →
Breaking News

Money and Credit – June 2026

These monthly statistics on the amount of, and interest rates on, borrowing and deposits by households and businesses are used by the Bank’s policy committees to understand economic trends and developments in the UK banking system. Key points: Net borrowing of mortgage debt by individuals increased to £7.7 billion in June, from £3.3 billion in…
Read More →
Breaking News

Price of a sea-view home up 27% since 2019

The average asking price for a home with a sea-view in Great Britain is £298,810, up from £235,635 in 2019 (+27%) Average sea-view asking prices have risen by more than 50% since 2019 in both the East Midlands and Yorkshire & The Humber The South East remains the most expensive region for a sea-view home…
Read More →
Breaking News

14.6% fewer farms in England

The latest analysis by LandSale has found that the number of agricultural holdings in England has fallen by 14.6% since 2005, highlighting the continued restructuring of the farming sector as some landowners exit the industry and others consolidate their operations. LandSale analysed the latest UK Government agricultural holdings data, comparing the number of total holdings and…
Read More →