Segro, the industrial property developer, sold its 50% stake in two retail schemes in London and York to British Land marking its exit from retail property and cementing its position as an industrial property landlord. Its 50% joint venture with Tesco was created 20 years ago. It owned the Surrey Quays centre in Rotherhithe, south London and the Clifton Moor centre in York.

Both centres are "anchored" by Tesco superstores and the 50% stake has been sold for a net consideration of £26.9m. With £120m of debt, the two centres have a combined gross asset value of £174m, with passing rents of £11.3m.