Cash-strapped GM has asked a real estate firm for help in raising up to US$257m from the sale and leaseback of some of its European offices and other property assets, the Financial Times has reported.

The plan is part of a global push by the carmaker to raise up to US$4bn from asset sales and capital market transactions as it runs critically short of cash, the paper said.

In the US, the company is looking to sell and lease back the Renaissance Center, the report said.

“We have engaged Jones Lang LaSalle to advise us on certain non-manufacturing assets,” Denis Chick, director of communications for GM UK and Ireland, told the FT.