Knight Frank has advised Redevco, on the sale of a 14,838m² retail park in Chiclana de la Frontera on the Bay of Cadiz. The retail park is anchored by a 7,039m² Eroski and includes Feu Vert, a Fifty Factory outlet store and a retail gallery focused on services.
Puerta de Chiclana was developed in 1991 by Hiperca S.A., a company which was owned by Antonio Muñoz, former president of Cádiz Football Club. In 2014, the retail park was extended adding an extra 4,427m² of GLA and is distributed across two floors.
This is the third medium sized retail property that the Reyzabal family’s property arm, New Winds Group, has added to its portfolio following the acquisitions of Málaga Plaza and Montecarmelo in Madrid.
About the Reyzabal family.
Julián Reyzábal, who passed in 1978, built a business empire which included film production, perfumes, cinemas and discos and a real estate portfolio was famous for including the Windsor building which would eventually be burnt down and the Picasso Tower. In May 2006, the mid-2000s the family’s business group was known as Inmobiliaria Asón, was sold to El Corte Inglés department store group for #400 million and his heirs divided the proceeds.
The inheritance of Julian Reyzabal is divided into five family branches which are distributed (unevenly) the varied real estate that brought together the Real Asón, sold to El Corte Inglés for 400 million in 2006, a year after the fire of the Torre Windsor in Madrid.
Two of the heirs – the Reyzábal González-Aller and Reyzábal Delgado- families have agreed to share investments in the Forter real estate company, RDE, which has an equity of close to 200 million.
New Winds Group (of the Saralegui Reyzábal family), has assets under management of over €110 million distributed mainly in four buildings of Madrid and Las Rozas, a mixed-used property as well as investments in solar energy.