Parc Central, Tarragona (image: Wikimedia Commons)

European shopping centre property deals stall

A string of shopping centre and retail park transactions are stalling across Europe as coronavirus lockdowns require shops to close. Blackstone has been in discussions with Allianz for months to sell Forum Palermo for €200million but the deal has fallen through. One of the largest malls in the Sicilian city, the asset provides more than 48,000 m2 of gross lettable area over 124 shops and 2,500 parking spaces. The US investment giant is also understood to have paused the marketing of Spanish Espacio Leon, a shopping centre which was put…

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Frankfurt Am Main skyline -- Wikipedia

European property market survey tips recovery in 12 months

In Europe, a majority of 75% of real estate professionals expect positive performance of real estate to return in 12 months. That is the combined verdict of over 840 people so far who have responded to PropertyEU/NL Market Barometer in the face of the coronavirus pandemic. Key findings to date include that over 90% of professionals across Europe have currently switched to working from home. The majority also says Covid-19 has made their day-to-day tasks and responsibilities more challenging, rating it as a ‘7’ on a scale of 1-10 (10 being incredibly challenging). Less than 1%…

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