Alpha Pyrenees has sold the Connecta Retail Park investment in Córdoba, one of the principal cities in the Andalucia region, for €15.3m – 100k more than its 31 December 2014 valuation.
The property totals approximately 16,880 square metres and is located on the Avenida de Cadiz, the main access route from the A4 motorway to the city centre. Tenants on the Connecta Retail Park include MediaMarkt, Sprinter, Dia, Norauto, McDonalds and VisionLab. The purchaser is a private investment company.
The sale forms part of the orderly realisation process supported by the Trust’s lender, Barclays Bank, and the net proceeds from this sale will be used to reduce the Trust’s borrowings with Barclays.
The Trust will provide further updates in due course.
ALPH : Alpha Pyrenees sells Cordoba retail park