• Transaction / Assets
    Former lands of Comcor shopping centre
  • Seller
    Mueble Juvenil SA
  • Buyer
    Hijos de Rivera
  • € MM

Estrella Galicia Buys Land that Used to House the Comcor Shopping Centre

26 April  2019 – La Opinión

Estrella Galicia announced that it had acquired the two plots of land in front of its brewery in the A Grela business park. The land, which the company bought from Mueble Juvenil SA, measures 18,000 square meters and was home to the Comcor shopping mall until its recent closure. The lands maximum buildable area is 37,800 m2, more than double its current occupation.

The brewer is currently expanding its current factory, adding the adjacent plot of land, which had been home to the A Grela 2 municipal soccer field is located, at the cost of more than 150 million euros. The new facilities are intended to house its packaging and warehousing areas. When construction finishes, Ignacio Rivera, the CEO of Hijos de Rivera, the brewery that produces Estrella Galicia, intends to expand within the European market. The factory’s current capacity of 400 million litres per year is expected to fuel that growth.  The new properties do not have a specific purpose as of yet. Estrella Galicia will hold the land in reserve to boost future growth.

Original Story: La Opinión – Á. Fernández

Translation/Summary: Richard D. Turner