PROPERTY developer British Land is considering selling a number of its assets to US real estate group Realty Income, reports say.

The potential £300m deal would involve selling a portfolio of six London-based data centres and offices, currently leased to Vodafone, and three shopping centres, according to the Sunday Times.

Both British Land and Realty declined to comment when contacted by the paper.

Realty first entered the UK market when it entered a joint ownership with British Land of 12 Sainsbury's supermarkets for £429m in 2019.

Since then, it has aggressively expanded its portfolio with more supermarkets, DIY stores and over 30 retail parks, totalling to more than £2bn worth of investment.

The US company, which is led by former investment banker Sumit Roy, has said previously to investors that the UK's dense, growing population and constraints on new development make it a long-term hotspot. British Land's data centre and office portfolio has been given a £100m price tag with bids due in this week.

(c) 2023 City A.M., source Newspaper