Colonial sells Viapark Retail Park

Colonial sells Viapark Retail Park

Colonial, in line with its policy of rotating non-strategic assets, has sold the Viapark retail park on the outskirts of Vícar, Almería, at appraisal value. In operation since 2008, Viapark is a retail space of around 32,000 sqm with macro stores occupied by brands such as Carrefour, Decathlon, Bricomart and Kiabi.

The park was inaugurated after an investment of 55 million euros, and it has been built on a plot of 100,000 square metres located at the exit of the A-7 in Vícar, in an area of great urban growth and with important tourist areas around it.

This operation is part of the divestment programme that the company started in 2022. All divestments are carried out in an appraisal environment, demonstrating the resilience of Colonial's assets. In recent months, Colonial has divested assets for a volume of close to 500 million euros, jointly in Spain and France.

The programme is part of the "flight to quality" strategy which, based on active portfolio management, divests mature and/or non-strategic products in order to recycle capital for new value creation opportunities and continuously improve the Group's risk-return profile.

The sale of Viapark was advised by Roca Junyent and Cushman & Wakefield.

A strong balance sheet for future growth

The Colonial Group has a solid balance sheet, both in terms of LTV (36%) and in terms of liquidity, almost €2,700 million. Current liquidity levels allow the Colonial Group to cover all of its debt maturities until 2027.

The Colonial Group also has a high level of hedging against rising interest rates through a high volume of fixed-rate bonds in combination with hedging instruments contracted for long-term maturities. 100% of the Group's net debt has a fixed interest rate.

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