Kennedy
Wilson Europe has earmarked £300m of assets for disposal as it looks to raise capital for a shopping spree in Spain and Italy.
President and chief executive Mary Ricks said the company would target property in Madrid and Barcelona and was increasingly considering Italian investments as it bought into the recovery of those markets where rents had now “rebased”.The company’s portfolio stands at £1.9bn, with net asset value rising by 9% in the year to the end of June.
The company has benefitted from both valuation gains and rental growth achieved in its development portfolio, which includes projects such as Baggot Plaza in Dublin (pictured).
