Babcock & Brown has agreed to buy Heron International’s Heron City Shopping Centre in Barcelona for €138m (£93m).

As revealed in Property Week (24.11.06 pg1) the firm today confirmed it would buy the three storey amphitheatre-style scheme on behalf of Luxembourg-based BGP Sarl – which comprises of partnership between Babcock & Brown itself and Australian property trust GPT Group.

Heron International City Shopping Centre consists of 301,390 sq ft (28,000 sq m) of leisure and 64,585 sq ft (6,000 sq m) of factory outlet space.