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Landsec JV sells Birmingham, UK, retail project for £94M

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.