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Sponda to develop €41M complex; Malaysia's Eco World buys stake in London scheme

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Sponda to develop €41M complex; Malaysia's Eco World buys stake in London scheme

This feature rounds up recent property news from S&P Global Market Intelligence's covered companies and highlights larger deal coverage already published.

UK

* EcoWorld Be Co. Ltd., a unit of Malaysian developer Eco World International Bhd., paid about £9.2 million for a 70% equity interest in 12 development schemes under the Aberfeldy Village project in the London borough of Tower Hamlets. The stake and a development management entity was acquired from the development arm of Willmott Dixon Holdings Ltd., Be Living Holdings Ltd.

* Civitas Social Housing PLC signed a roughly £8.2 million deal to buy four residential care properties in the Midlands that are leased to 53 tenants.

* Highcroft Investments PLC exchanged and completed contracts for the divestment of its freehold interest in a mixed-use property on Cricklade Street in Cirencester for roughly £1.8 million. The aggregate gross consideration for the property, comprising three retail units and two residential flats, represents a 6% premium to the about £1.7 million value as at December 2017.

Finland

* Sponda PLC will construct an office and retail complex in Ratina, Tampere, with investments worth approximately €41 million. The development will feature four- and seven-story sections on about 13,700 square meters of net floor space. Elisa Oyj will anchor the property that is expected to be delivered in spring 2020.

Belgium

* Intervest Offices & Warehouses signed an agreement to privately purchase zone B of the roughly 42-hectare former Ford site in Genk for the development of an approximately 250,000-square-meter logistics complex. Genk Green Logistics, a partnership between Intervest and Group Machiels, will work on the project along with MG Real Estate and DEME Environmental Contractors.

France

* Altarea Cogedim was awarded a tender to develop the over 100,000-square-meter mixed-use Gassets neighborhood in Val d'Europe, France. The new urban development will primarily feature retail space. Real Estate Development by Euro Disney launched the tender in 2016.

Germany

* Demire Deutsche Mittelstand Real Estate AG signed a new 10-year lease agreement for a DIY store at Hammerstrasse 455-459 in Münster with the property's current tenant, retail chain toom, starting February 2019. The store contains roughly 7,350 square meters of leasable space and 200 parking spaces, according to a release.

Additional coverage

PGIM Real Estate, Finland's Varma buy 6 Paris offices for €256M

Report: Google seeking 2 more Dublin office assets

Supermarket Income REIT buys Tesco-leased asset for £53M

6 Spanish hypermarkets selling for €105M

Turkey's Emlak Konut to sell 50% stake in Istanbul land for 312.5M lira