Savills to value Kingfisher commercial property portfolio

A vast commercial property portfolio owned by Kingfisher Plc is to be studied closely and valued by real estate advisor Savills over the coming weeks.

The company has asked Savills to take a look at its range of retail outlets, which include those used by high street brands such as B&Q.

In addition to the B&Q stores in the UK, Kingfisher maintains a range of Castorama and Brico Depot units in France.

"Kingfisher's B&Q, Castorama and Brico Depot brands are market leaders and form part of its global portfolio of 900 stores. Savills European team is delighted to be working with this prestigious client," said John Rhodes, joint-head of UK portfolio valuation at Savills.

Once a valuation is made clear, Kingfisher may be planning to remortgage or even sell some of its assets for finance.

The UK's retail property stock was criticised recently by Matthew Hopkinson, business development director of the Local Data Company, who said the country does not have the right stores in the right places.

Source: Tony Wilbun - Commercial Finance Group
www.commercialfinancegroup.co.uk/news/11742-savills-to-value-commercial-property-portfolio