The 21.7% holding in Lar España Real Estate Socimi will be funded in cash and shares
Vukile’s flagship Spanish shopping centre, the El Faro centre in Badajoz. Picture: SUPPLIED
Vukile’s assets, worth R33.4bn, are spread between SA and Spain . The Spanish assets are held through its 88%-held subsidiary Castellana, which is the seventh-largest retail landlord in Spain. Lar España, which has a portfolio of 14 assets offering more than 550,000m² of gross lettable retail area, has a high occupancy rate of 95%, catering to mostly large international and national tenants.
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