Bunnings sells outlets

The Australian DIY retailer Bunnings, which is a subsidiary of Wesfarmers, has sold ten of its stores to the BWP Trust in a so-called sale and leaseback procedure. Bunnings’ yield from the sales is some AUD 271 mio (over € 147 mio). According to information provided by the company, it is also carrying out discussions with other firms that are targeted towards further sale and leaseback procedures for its DIY store portfolio.