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Value of property owned by supermarkets 'falls as they shed surplus sites'

The value of property owned by big supermarkets has fallen by almost a fifth over the past two years as they shed surplus sites, a study shows.

The change in consumer habits to online shopping has left supermarkets with sites they no longer need, said lending platform Saving Stream.

Many of the properties are out-of-town brownfield sites suitable for new housing, representing a significant opportunity for developers of residential property, said the report.

Spokesman Liam Brooke said: " UK supermarkets are increasingly looking at reversing a long-term strategy of land-banking."

Major supermarkets now own property valued at £37.8 billion, a fall of 17% over the past two years, said the report.

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