Sainsbury's planning £550m sale and leaseback deal

The Sunday Times reports that Sainsbury's is planning the largest sale and leaseback deal in the supermarket sector for a decade. Property agents at Jones Lang LaSalle are marketing the proposed £550m sale and leaseback of 18 supermarkets. The portfolio of properties is being offered on 15-year leases at a yield of around 4.5%. City sources say the supermarket giant is selling the stores in order to raise funding to buy 21 of its supermarkets out of a joint venture with real estate investor Supermarket Income REIT.

The Sunday Times