BAA, the airports operator that runs Heathrow and Gatwick, is to sell its interests in five UK designer shopping outlets and hopes to raise up to £200 million from the deal.

It is dissolving its joint venture with property group McArthur Glen after deciding to focus on its core airports business. McArthur Glen is taking sole ownership of several sites in mainland Europe, while BAA has secured the venture's UK interests.

A BAA spokeswoman said there is no timescale on the sale, "but we are looking to do so as soon as we can."