Company Announcements

Property Transaction Update

Source: RNS
RNS Number : 5910A
Sainsbury(J) PLC
26 September 2022

26th September 2022

J Sainsbury plc


Property transaction update


Sainsbury's announced on September 21st that it was in discussions to sell 18 supermarket stores to LXi REIT plc on a sale and leaseback basis.


LXi REIT has this morning announced that given current stock market volatility it is not proceeding with the share issue that would have part-funded the transaction. Hence we are no longer in discussions to sell these stores to LXi REIT. This will have no impact on our financial guidance.


We stated on September 21st that if the LXi transaction were to proceed, the cash received from this transaction would have been used to part-fund the purchase of 21 freehold Sainsbury's supermarkets from the Highbury and Dragon portfolios.


The purchase of these 21 stores will complete in the first half of the financial year to March 2024. Given the strength of the Sainsbury's balance sheet and property portfolio, we have a wide variety of alternative options to finance this transaction.






Investor Relations Enquiries                                   Media Enquiries

James Collins   +44 (0) 20 7695 7112                            Rebecca Reilly   +44 (0) 20 7695 7295        


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact or visit

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.