Our Properties
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in Spain
Spain
Nassica Retail and Leisure Park, Madrid
Visitor numbers at Nassica up 20%
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This scheme is 99% let by area, with lease agreements recently signed with Toys 'R' Us and Starbucks.
Visitor numbers increased by circa 20% in 2009.
Sales were positive and even weaker sectors in the current economic context, such as electrical, showed an improvement over the last quarter of 2009.
The main anchor stores, Carrefour and UGC Cinema, are trading well.
The factory outlet will be redesigned during the second half of 2010, predominantly to accommodate new retail warehouse occupiers.
Nueva Condomina Shopping Centre and Retail Park, Murcia
14,369m² of lettings at Nueva Condomina
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The scheme is now 96% let by area to strong national and international occupiers including Fnac, H&M, Inditex Group, Leroy Merlin, Media Markt and Primark.
Visitor numbers increased by 6%, with around 11 million visitors in 2009.
There was intensive leasing activity during 2009, with 14,369m² let to retailers including Coleccion Hogar, Go Go Bowling and Worten, as well as fashion retailers, such as Esprit, Mango, Todosport and Zippy.
A programme to improve signage, landscaping, car parking and pedestrian flows was successfully implemented during the latter half of 2009.
This is a joint venture between PREF, British Land and Henderson’s Herald Fund.
Vista Alegre Retail Park, Zamora
4% increase in sales at Vista Alegre
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This 16,745m² scheme is now fully occupied.
Visitor numbers increased by 10% during 2009 and sales increased by 4% on a like-for-like basis.
Rent-to-sales ratios remain comfortable for the majority of retailers.
We increased the proportion of turnover rent leases (based on sales declarations) to 53% in 2009, from 26% in 2008.
Puerto Venecia, Zaragoza
One of Europe’s largest retail and leisure destinations
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200,000m² joint venture development project.
The first phase of the scheme, a 85,000m² premium retail park, opened in 2007/08.
The retail park is now 90% let or sold, attracting leading operators in furniture, home decoration, electrical goods and sports equipment. It is anchored by Ikea, Leroy Merlin, Media Markt and Conforama, with Decathlon and Kiabi also due to open during 2010.
The second phase consists of a major shopping and leisure centre focused around a lake.
The shopping mall is anchored by the leading department store operator, El Corte Inglés, together with Primark, Desigual, H&M, Mango and Toys 'R’ Us.
The leisure element is anchored by Cinesa, the leading cinema operator in Spain, and Wavehouse, the lifestyle surfing operator.