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British Land and Orion Capital open Spain’s largest fashion mall Wednesday, 3rd October 2012
Photo credit: British Land
Spain’s largest fashion mall opened at Puerto Venecia Zaragoza on Wednesday, boasting 1.4 million square feet of retail space and 87 per cent let or under offer.
Jointly owned by British Land and an Orion Capital Manager sponsored fund, the fashion mall is anchored by leading Spanish department store El Corte Inglés, and is the only centre in the country to house all nine of Inditex Group’s brands. Bershka, Massimo Dutti, Oysho, Pull & Bear, Stradivarius, Lefties, Uterqüe, Zara and Zara Home have taken a total of 70,000 square feet at the centre, with Primark, Hollister, Desigual and H&M also signing up.
Speaking in light of the opening, Stephen Smith, chief investment officer for British Land said: “Puerto Venecia will be one of Spain’s most spectacular retail destinations and will dominate its significant catchment. We are delighted that the retail and leisure offer will feature the very best national and international brands.”
Aref Lahham, director of Orion Capital Managers, went on to say: “Our decision to invest in Puerto Venecia has been fully endorsed by the line-up of well-known retail names that have taken space in the centre. We believe that there is a continuing consolidation in the Spanish retail market with the strongest retail centres and catchment areas benefiting the most – Puerto Venecia firmly falls into this category.”
With a catchment of 2.2 million people within a two hour radius, the new fashion mall will join Puerto Venecia’s 890,000 square foot retail park, which opened back in 2008.
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Posted in fashion, Franchise & Expansion, Retail Property, Shopping Centres Tagged british land, property, puerto venecia, stephen smith, aref lahham, orion capital managers, inditex, spain
