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Birmingham Post
Birmingham Post
Business
Hannah Baker

Sainsbury's in talks to sell 18 stores in £500m leaseback deal

Sainsbury Dragon Highbury

Sainsbury's has confirmed it is in talks with a real estate firm to sell 18 supermarket branches for around £500m on a sale and leaseback basis.

The stores are located in the South of England, although it is not yet clear exactly which sites are included in the deal. The supermarket chain has held the discussions with London-based LXi REIT, it announced on Wednesday (September 21).

Sainsbury's is discussing with investors a possible share issue to part-fund the transaction but there could be "no certainty" the transaction or the associated share issue would take place.

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