Firm to buy €80m Spanish property

AN Irish property company has agreed an €80 million deal to develop a retail site in southern Spain.

Galdevar will develop 41 retail units in the luxury resort of Sotogrande on behalf of a number of Irish investors.

It is to open upmarket boutiques, bars restaurants and a car park in the Sotogrande waterfront.

Galdevar is owned by Gavin Gallagher, who founded the business in 1997 when he left architects Scott Tallon Walker.

Other directors of the firm are property developer Jim Osborne and Century Homes founder Gerry McCaughey.