Intu’s 50% share of the Xanadú shopping centre is included in this portfolio, as well as its 50% share of the Puerto Venecia shopping centre in Zaragoza and in the Parque Principado in Asturias.
Intu has already started negotiating with the companies which have stakes in these assets, but, according to newspaper Expansión, it remains open to outside offers.
TH Real Estate – which bought in May 2017 50% of the Xanadú shopping centre for 264 million euro from the British real estate company – is one of the parties interested in buying the asset. Canadian management company CPPIB is competing for 50% of shopping centres Puerto Venecia and Parque Principado – of which it owns the other half.
With this divestment strategy, the British real estate company has already earned around 209 million euro by selling its 50% share of the Derby commercial complex, in London, to Cale Street. Adding the amounts from the sale of these assets in Spain, the company will earn a total of approximately 675 million euro.