Landsec's The Harvest Partnership joint venture with Sainsbury's sold the Selly Oak Shopping Park project in Birmingham, U.K., for £94 million to M&G Real Estate.
Landsec is expected to receive half of the proceeds, according to a release.
With completion expected in the autumn, the development will feature 190,000 square feet of retail space, most of which is already leased to brands such as Sainsbury's, Marks & Spencer, Superdrug and Nando's.
