JSD was created by Sainsbury's ten years ago, to focus on general property development, often unrelated to Sainsbury's own store portfolio. A separate company--Sainsbury's Property Company--acts as a service company to the main business, upgrading and extending existing stores. JSD has grown into a successful property trader-developer with a current portfolio of around 20 projects ranging from out-of-town retail to in-town mixed-used developments, throughout the UK. The book value of the portfolio was £141 million ($221 million) at 30 March 2002.

However, JSD is a relatively small part of the Sainsbury's group. In the year to 30 March 2002, JSD contributed an operating profit of £15 million ($23.5 million), just 2 per cent of the Group's total operating profit of £679 million ($1.07 billion).

Simon Webster, Sainsbury's Director of Property Planning and Development said: "Sainsbury's is in a period of intense store expansion and improvement, which is being delivered through a multi-format strategy that allows us to develop our formats to meet the needs of our customers in local markets. This expansion is in support of Sainsbury's business. JSD has developed into a successful property trader-developer, delivering new schemes which mostly do not relate to Sainsbury's supermarket business, therefore, it is an appropriate time for us to consider a disposal." Jones Lang LaSalle has been retained as marketing adviser for the sale.