Spanish property company Testa Inmuebles en Renta has agreed to sell the Fresnos de Gijon shopping centre in Spain's Asturia region and the Lakua de Vitoria mall, also in northern Spain, for a total of EUR 65 mln.

Spanish property company Testa Inmuebles en Renta has agreed to sell the Fresnos de Gijon shopping centre in Spain's Asturia region and the Lakua de Vitoria mall, also in northern Spain, for a total of EUR 65 mln.

Los Fresnos, which covers some 38,000 m2 of gross lettable space on five storeys, has been sold to Dutch property company Redevco for some EUR 45.5 mln. The mall consists of 105 retail units and 2,000 parking places. The major tenants are Carrefour, Menaje del Hogar, and Yves Rocher.

Lakua de Vitoria was sold for EUR 19.5 mln to the Spanish real estate firm Sotohenar.

Testa said the disposals were in line with the company's strategy of selling mature assets while focusing on development. Testa, which is specialised in property leased to the Spanish construction group Sacyr Vallehermoso, said in a statement that its development pipeline currently stands at EUR 700 mln, or 220,000 m2 of space.

Testa owns a portfolio of 1.5 million m2 of property, including offices, shopping centres and hotels. Its turnover for the year ending on 30 September was EUR 198 mln, up 8% on 2006's figure. Its net profit grew by 17% this year to EUR 52.8 mln.