J Sainsbury Developments, the property development arm of Sainsbury, has forward funded its Fox Den Retail park with Legal & General. The price of £23.1m reflects an initial yield of 6.25%. The site, at Filton near Bristol, is the last of a group of fields to be turned over to commercial development. It is intended that a new 120,000 sq ft Homebase be built along with a few other retail units. Homebase is to pay a rent of £12.50/sq ft. Completion is scheduled for spring 2001. Law firm Lawrence Graham is advising L&G. {{PROPERTY }}

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