I don't think the land value in Myer approaches anything likes its market cap... Myer store Melb is the largest I think and that was sold and leased back. I am not sure about the sydney store. A lot of the other stores seem to be leased in Westfield malls.
It's probably also a case of this land having strategic value to Myer only
Even if it was possible to sell them the market wouldn't be there to sell into, especially with Mark McInnes telling landlords to be on watch for him closing stores if they don't ease up on rent.
The only other thing of value that Myer has is its' brands, and I think they should start promoting the brands as stand alone assets.
MYR Price at posting:
$2.25 Sentiment: LT Buy Disclosure: Not Held
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