Sony is looking for a purchaser for 2m sq ft of its freehold property across Europe.
The technology giant has instructed Cushman & Wakefield Healey & Baker to market a €100m (£68m) sale-and-leaseback deal that will include one major UK site. The rest are in Italy, Switzerland, Germany, the Netherlands and Belgium.
The bulk of the portfolio will be offices and the balance manufacturing sites. Sony plans to stay in only around 60% of the properties.
The sale is part of a restructuring announced by chief executive Sir Howard Stringer on 22 September, when Sony revised its full-year operating profit from ¥30bn (£0.14bn) to a loss of ¥20bn (£0.09bn).
This would be its third year of operating losses.
Stringer said structural reforms were expected to achieve a ¥200bn (£0.99bn) reduction in costs by the end of the 2007 fiscal year.
They include cutting 10,000 jobs globally and consolidating manufacturing sites.
A Sony spokeswoman said: “The aim of this initiative is to make the best use of our facilities in Europe.
“We cannot yet give out any information on which buildings will be affected.”
CWHB declined to comment.
References: EGi News 17/10/05
