Kingfisher to sell part of its real estate portfolio

The British retailer Kingfisher Plc is looking at the possibility to divest part of its real estate portfolio. It would involve 15 department stores and 5 plots of land. The properties are owned by Chatwell Land, a full daughter company of Kingfisher.

The value of the real estate is estimated at STG 500 mln and annual rental revenues amount to STG 29 mln. After completion of the sale, the remaining real estate portfolio of Kingfisher is still some STG 2 bln.

(source: Kingfisher)

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