UK retail giant Tesco has unveiled plans to sell off a total of 35 plots of land in Poland as part of a strategy to raise funds for the expansion of its existing assets in the country.
UK retail giant Tesco has unveiled plans to sell off a total of 35 plots of land in Poland as part of a strategy to raise funds for the expansion of its existing assets in the country.
Tesco has hired Cushman & Wakefield to divest a total of 35 properties intended for commercial developments and located largely near Tesco’s existing stores.
The sites earmarked for sale involve over 30 hectares of land, most of them undeveloped.
C&W said it will market the assets through competitive biddings.
'Tesco has decided to sell its excess land to enhance the retail attractiveness of its store locations,' said Marek Noetzel, partner of C&W's retail department team. 'Tesco is a highly recognised brand in Poland with its stores driving strong footfall.'
