Sainsbury's has completed its withdrawal from property development with the sale of its last six development schemes to a joint venture between Kier Property and HBOS for£32.3 million.
The properties - a mixture of industrial, retail and residential - are situated in Chichester, Kingston, Maidenhead, Sunbury, Sydenham and Lincoln.
The sale means Sainsbury's has raised a total of£200 million from J Sainsbury Developments. Last year, a consortium headed by Catalyst Capital bought the company's investment portfolio.
Sainsbury's property director Desmond Taljaard said: 'I am pleased that this, the final sale of the J Sainsbury Development sites, has been successfully concluded.'
DTZ Debenham Tie Leung advised Kier Property. Jones Lang LaSalle acted on behalf of Sainsbury's.
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