Unibail-Rodamco is expected to push ahead with plans to sell its non-core Spanish assets earmarked for sale after having clinched disposals in the Netherlands and the Nordics in the past few weeks. According to a well-informed market souce, conversations are advancing on a EUR 180 mln portfolio of four centres which Cushman & Wakefield is believed to be marketing in Spain.
Unibail-Rodamco is expected to push ahead with plans to sell its non-core Spanish assets earmarked for sale after having clinched disposals in the Netherlands and the Nordics in the past few weeks. According to a well-informed market souce, conversations are advancing on a EUR 180 mln portfolio of four centres which Cushman & Wakefield is believed to be marketing in Spain.
Europe's largest listed property company, which earlier this year unveiled plans to sell EUR 2.5-3 bn of non-core retail and office assets, is said to be looking for buyers for a Spanish portfolio consisting of Albacenter in Albacete, Equinoccio in Madrid, Barnasud in Barcelona and the Dos Hermanas Factory Outlet Centre in Sevilla. The centres, offering 125,000 m2 of gross retail space across over 270 shops, are expected to trade for a 7-8% yield.
Last week, the Franco-Dutch giant sold four retail properties in Sweden to a consortium led by Grosvenor Fund Management (GFM) as part of its efforts to rationalise its property portfolio. The portfolio consists of three shopping centres in the Stockholm region and a prime supermarket investment in Helsingborg.
In March the company also sold 33 units in the Walburg shopping centre in Zwijndrecht near Rotterdam, the Netherlands, to pan-European retail property fund VastNed Retail for a net initial yield of 6%. The company is also believed to be in talks on the sale of two shopping malls in France.
Unibail-Rodamco and C&W both declined to comment.
