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  • Transaction / Assets
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New Winds Group Buys Málaga Plaza Shopping Centre

31 March 2017 – Eje Prime

New Winds Group has purchased the Málaga Plaza Shopping Centre from Inversiones Igueldo. The asset, located in the financial and commercial heart of Málaga, has a gross leasable area of 6,600 m2, spread over three shopping floors and three underground floors containing 320 parking spaces.

The Málaga Plaza Shopping Centre was constructed in 1993 by the architect Ángel Asenjo and currently receives 3 million visitors per year. It is home to brands of the calibre of Burger King, FNAC, VivaGym and Primor, amongst others.

Over the next few months, New Winds Group will undertake an ambitious project to improve the shopping centre and will introduce new operators. Aguirre Newman has advised the divestment through an improvement in the occupancy rate and in the quality of the tenants and the subsequent sale at a profit.

New Winds Group is a Madrilenian real estate company linked to the Reyzábal family, known primarily for being the owner of the Windsor building. In recent years, it has acquired other shopping centres, such as Montecarmelo in the Spanish capital.

Original story: Eje Prime

Translation: Carmel Drake