British retailer Tesco may have a new item for sale: some lakeside property in Prague.
The world’s fifth largest retailer has already been selling off some U.K. properties as it tries to unleash billions of pounds in value from those properties.
At the Reuters Consumer and Retail Summit, Finance and Strategy Director Andrew Higginson said the retailer will probably extend that sell-off to properties outside Britain at some point.
“No one was building in Central Europe when we started, so we built and we’ve got some fantastic assets there. We have the lakeside of Prague, a huge shopping development,” he said.
Higginson also told the summit that the Bank of England needs to be careful not to go too far with increasing interest rates, saying that consumer spending was already slowing.
Video: Tesco warns of tough year ahead
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