Savills IM snaps up Spanish retail asset for €48m

Savills Investment Management has acquired an Eroski hypermarket which is part of the Garbera shopping centre in the northern Spanish city of San Sebastián. The off-market deal was valued at €48 mln.

The asset was bought on behalf of Savills IM's European Retail Fund from European listed property giant Unibail-Rodamco.

The hypermarket provides around 14,200 m2 of retail space on the ground floor of the mall.

Fernando Ramírez de Haro, managing director of Savills Investment Management for Iberia, said: 'This transaction is in line with our investment stategy in Spain. Following the acquisition, our portfolio in the region amounts to nearly €500 mln.'


Latest news

Best read stories