Redevco has bought a large-scale retail development in Spain from developers Eroski Group and ING Real Estate. The invested amount is approx. € 19 mln.
Redevco’s acquisition is the large-scale retail development Parque Principado II in Oviedo. The development comprises 15,500 m² of floor space for let in which one unit of 3,500 m² is still empty. A lease contract will be signed shortly. Renters are Aki Bricolage, Conforama and Burger King. Parque Principado will be completely developed by Eroski Group and ING Real Estate. Redevco wants to build up a portfolio in Spain and Portugal of € 250 million over the coming years. The complete European portfolio now comprises investments worth € 5,7 billion.