Sainsbury's to sub-let part of store to rival M&S

Sainsbury’s is to sub-let a third of one of its London sites to rival retailer Marks & Spencer in a multimillion pound deal.

The supermarket joint will strike a deal over one third of its former store in Merton, south London.

It is understood that this may not be the first deal of this kind and that a string of similar projects with Marks & Spencer could be on the cards in the near future.

The new M&S store will open next year and will be the largest open in London for more than eight years at 105,000 sq ft and has been described as a flagship store.