The sites, located in East Kilbride, Paisley (Renfrew Road and Love Street), Crieff, Aviemore, Cupar, Cowdenbeath, Thurso, Dundee, Kilmarnock, Larkhall, Coatbridge, Dalkeith, and Glasgow, will be developed by LSI for a mix of retail and residential uses.
They had previously been acquired by Tesco for potential store development which has not progressed as planned.
Bryan Wilson, Group Development Director at London & Scottish Investments said: “We are delighted to announce this purchase, which is fantastic news for the towns involved. We now look forward to meeting with council leaders and planning officers from all the local authorities involved, to discuss and review our plans for the economic redevelopment of these sites.