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Merlin and Panattoni Bid for Prime Logistics Asset Owned by El Corte Inglés

The asset owned by El Corte Inglés has a total of 40,000 square metres and a 150,000-m2 adjoining plot of land for developing future projects.

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El Corte Inglés is accelerating the sale of its logistics platform in La Bisbal del Penedès, Tarragona. Merlin Properties and Panattoni are the best positioned, with offers above 70 million euros, according to Expansión.

The industrial asset has a built-up area of 40,000 square metres. It also has 150,000 square metres of undeveloped land, which can be used for new projects.

The warehouse is 70 kilometres from Barcelona and 34 kilometres from Tarragona. Due to its geographical position, it covers the entire area of Catalonia and the Mediterranean corridor.

This sale is part of the process of divesting real estate assets initiated by El Corte Inglés before the summer. The retail company commissioned BNP Paribas to put half a million m2 of logistics space on the market.

Read the full article in Spanish

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