By John Smith • 03 September 2020 • 17:33
AS previously reported, British developer Intu Properties has been placed into Administration (a form of bankruptcy) and as expected, liquidator KPMG has instructed a Spanish agency to try to find a buyer for its 50 per stake in Madrid shopping centre Xanadú.
It was as recently as 2017 that Intu purchased the centre for €530 million and then quickly sold half to Nuveen Real Estate Fund and last year it managed to sell its Zaragoza shopping centre and pulled out of a planned development in Torremolinos.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica.
Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene.
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