|
contents | business | |||||||||
| Sonae Sierra and Miller Developments sell Lima Retail Park Sonae Sierra, an international shopping centre specialist, and Miller Developments, a subsidiary of The Miller Group, the UK's largest privately-owned construction business, have concluded the negotiations for the sale of the total capital of Lima Retail Park to PREF, the European retail park fund managed by British Land European Fund Management LLP. Lima Retail Park, located in Viana do Castelo, is a new development which provides 13 shops, two of which are in a large format for the Maxmat and Moviflor brands. Built on a 27.664 m² site, with a Gross Lettable Area (GLA) of 10.764 m², Lima Retail Park will continue to be managed by Sonae Sierra. Lima Retail Park is the fourth project developed in Portugal by the joint-venture between Sonae Sierra and Miller Developments. The joint venture was created in April 1998 for the development of this format in the Iberian Peninsula. Following this transaction, PREF is the largest owner of retail parks in Portugal, with four trading schemes totaling 67,000 sqm. The remaining schemes are located in Aveiro, Portimao and Lisbon. In addition, PREF has contracted to acquire one further development, a 26,000 sqm development which is currently under construction in Santarem. write your comments about the article :: © 2007 Construction News :: home page |