Quartiers successfully completes sale of Altura160 project
Quartiers Properties AB (publ) ("Quartiers" or "the Company") has completed the sale of the Altura160 project in Benahavís to Taylor Wimpey de España S.A.U ("Taylor Wimpey") as planned. This transaction, with a value in EUR equivalent of SEK 107.2 million, marks an important milestone for Quartiers and demonstrates the Company's ability to create and realise value in its projects.
Through this transaction, Taylor Wimpey, one of the UK's largest residential developers with significant operations in Spain, has taken over ownership of Altura160. The transaction gives Taylor Wimpey the opportunity to develop the project, which includes planning permission for the construction of 60 apartments and associated car parking. This sale is further evidence of Quartiers' ability to successfully develop and refine real estate projects, while the transaction also generates significant cash flow and creates the opportunity for further investment and growth.
Marcus Johansson Prakt, CEO of Quartiers Properties, comments: "The sale of Altura160 to Taylor Wimpey is a clear demonstration of our ability to create and realise value from our property investments. This transaction not only strengthens our financial position, but also our market position as a reliable and successful property developer".
Quartiers looks forward to continuing its growth strategy and focusing on new exciting projects, while Taylor Wimpey takes the next step in realising the potential of Altura160.
Please address questions to:
Quartiers Properties
Marcus Johansson Prakt, Chief Executive Officer
Email: marcus.prakt@quartiersproperties.se
Phone: +46 72 018 59 98
The company in brief
Quartiers Properties is a Swedish property development company with a focus on excellent design and quality, and is active on the Spanish Costa del Sol. The company was founded in 2014, since when it has built up a portfolio of investment properties and project properties. The company develops, sells and rents out properties.
Quartiers Properties owns and manages Boho Club, which is a boutique resort in Marbella’s Golden Mile district with a restaurant and 40 hotel rooms. The project has won awards for its design and architecture, and since its launch in 2019, both the hotel and the restaurant have established themselves as leading venues in Marbella. Visit Boho Club website www.bohoclub.com to book a hotel room or reserve a table at the restaurant. The restaurant is open daily, serving breakfast, lunch and dinner.
Quartiers Marbella Apartments is an apartment complex in Benahavís, the neighbouring municipality to Marbella, where Quartiers runs apartment rental operations. The apartments are ideal for short- and long-term accommodation and are popular among families, as well as groups visiting Marbella for leisure purposes, fitness holidays or to play golf. Visit our website www.quartiersmarbella.com to book your apartment.
Hacienda Collection is an apartment project in Benahavís just outside Marbella, where Quartiers Properties is selling apartments that are ready for immediate occupancy. The apartments are located in a gated community featuring wonderful views of the Mediterranean. These apartments feature a large, open floorplan with big windows, high-end kitchen, separate laundry room and 2–3 bedrooms. The spacious terraces offer plenty of scope for spending time with family and friends. Visit the website for additional information and to book an online or in-person viewing: www.haciendacollection.es.
Mangold is the company’s Certified Adviser. Mangold can be contacted on +46 (0)8 503 015 50 or by emailing ca@mangold.se.