British Land in jv to buy prime shopping centre in Spain for 350 mln eur |
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Published
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Mon, 12 Mar 2007 11:26
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LONDON (AFX) - British Land Co PLC and the closed-end fund PREF (The Pillar Retail Europark Fund) have formed a joint venture to acquire a prime regional shopping centre and retail park in Murcia, Spain for around 350 mln eur from Deparcom, a joint venture between Eroski and Grupo Trusam.British Land said it expects to complete the purchase before the summer following satisfactory due diligence.Known as Nueva Condomina and located in the city of Murcia, south eastern Spain, the 120,000 square metre scheme encompasses a 60,200 square metre two-storey enclosed shopping centre and a 44,400 square metre retail park.The shopping centre opened in September last year and the retail park completes during March. Both the centre and the park are 96 per cent let.newsdesk@afxnews.comslmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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