Unibail-Rodamco-Westfield to sell four shopping centres in Spain

Company News

by Anna Napoli

Unibail-Rodamco-Westfield (ASX:URW) has announced the sale of four shopping centres in Spain.

The commercial property says the total transaction cost is €489 million and represents a net initial yield of 5.6 per cent.

Following the transaction the company’s Spanish portfolio will consist of 6 flagship shopping destinations, two regional shopping centres and a number of development projects with an expected cost of completion of €800 million.

The sale is part of the €3 billion worth of disposals to be made by the company as part of its European asset rotation programme.

Shares in Unibail-Rodamco-Westfield (ASX:URW) closed 0.20 per cent higher to $14.87

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.