Three new medium-sized IKEA stores are scheduled to be developed or under construction in Greece with the aim of opening in the next 2-3 years.

The current passing rent is £7.30 per sq ft on average versus a £10.90 per sq ft estimated rental value (ERV).

This deal marks Blackbrook’s first investment in Germany, and the eighth market the firm has entered since its launch in 2020.

A distribution of a dividend of €1.45ps (net €1.37/share) for the 2022 financial year was approved.

The property consists of three ground-floor processing units with an area of 3300 sq.m. and an office and showroom floor of 850 sq.m.

The consent of land owners within the Parks is considered a precondition.

Ortega, who controls 59% of Inditex, has to invest that amount within the year because of the legal and fiscal rules that govern family offices like his Pontegadea.

The REIC finalised the acquisition of "THETIS KTIMATIKIEMPORIKI S.A.".

The lessee of the property and the contractor of the business will be the newly established company IOLI PIGI.