Robert Tchenguiz, the property tycoon with a 10% stake in Sainsbury's, is reportedly planning to renew his calls for the supermarket chain to spin off its property portfolio.

Tchenguiz called for Sainsbury's to split the company into an opco/propco operation last year but his plans were rebuffed by Sainsbury's board of directors.

However, he is understood to have contacted Sainsbury's chairman Sir Philip Hampton requesting a meeting to discuss his ideas, according to reports in the Guardian.

“The proposal has been sitting on the table for a year,” a spokesman for Tchenguiz told the paper. “It was superceded by the Qatari proposal but Robbie still believes there is a lot of value to be released."