European law firm SJ Berwin has said that its real estate division advised British Land on the disposal of two Sainsbury's supermarkets at Swindon and Surbiton in the UK to an undisclosed buyer for a combined total of £56mln (EUR 70mln). SJ Berwin said the supermarkets were acquired by British land from Sainsbury's several years ago as part of a sale-and-leaseback portfolio. The disposals were completed prior to the conclusion of the £1.2bn joint venture between British Land and Sainsbury's in relation to 39 Sainsbury's stores. SJ Berwin also acted for its long-time client British Land in the sale-and-leaseback transaction.
European law firm SJ Berwin has said that its real estate division advised British Land on the disposal of two Sainsbury's supermarkets at Swindon and Surbiton in the UK to an undisclosed buyer for a combined total of £56mln (EUR 70mln). SJ Berwin said the supermarkets were acquired by British land from Sainsbury's several years ago as part of a sale-and-leaseback portfolio. The disposals were completed prior to the conclusion of the £1.2bn joint venture between British Land and Sainsbury's in relation to 39 Sainsbury's stores. SJ Berwin also acted for its long-time client British Land in the sale-and-leaseback transaction.
SJ Berwin said it has advised British Land on a long string of transactions dating back to the establishment of the practice. In the first quarter of 2008, SJ Berwin advised British Land on the sale of four Debenham's department stores in Luton, Winchester, Hull and Staines and on the sale of Plantation Place South. This marked the final sale of the British Land Plantation Estate, after 1 Plantation Place was sold in 2006 for £527mln. SJ Berwin also advised on the sale of 1 Plantation Place.
