Bringing retail to life.

Latest News

23 November 2020 Pradera agrees lettings totalling 2,500 sqm for Les Armoiries Shopping Centre in Bry-sur-Marne, France Grand Frais and Action to start trading at Les Armoiries Shopping Centre during the first half of 2021. 17 November 2020 Plus size clothing retailer complements fashion offer at Costaverde Shopping Centre Maqueda starts trading at Costaverde Shopping Centre 12 November 2020 Domoteka wins “Retail Scheme Internet Campaign of the Year” award A golden statuette for Domoteka 10 November 2020 Pradera acquires Spanish grocery portfolio on behalf of new German pension fund client Pradera completes the acquisition of a portfolio of six hypermarket assets in northern Spain on behalf of German pension fund 6 November 2020 Revealing the new Lingotto Shopping Centre in Turin, Italy The new Lingotto Shopping Centre re-opened for trading in a former FIAT car factory following a refurbishment and extension project in excess of €20 million 5 November 2020 Istanbul Cevahir awarded for Alzheimer’s disease marketing awareness campaign Istanbul Cevahir marketing campaign comes second in Felis Marketing Awards

More News


Home News & Media Pradera News

Pradera and joint venture partner AXA Investment Managers - Real Assets complete acquisition of the 8Gallery shopping centre in Turin, Italy, for €105 million

Pradera announces that it has completed the acquisition, in a Joint Venture with AXA Investment Managers - Real Assets (“AXA IM - Real Assets”), a global leader in real asset investments and the leading(1) real estate portfolio and asset manager in Europe acting on behalf of clients, of a minority interest in the 8Gallery shopping centre in Turin, Italy. The total purchase price is €105 million.

Located in the iconic Lingotto Complex, 8Gallery, a top-ranked Turin retail destination, totals 23,300 sqm of GLA over two floors, with 4,000 parking spaces. It is let to a diverse range of national and international brands. Alongside 8Gallery, the Lingotto Complex houses a 2,300-seater cinema, two hotels, a conference centre and a Polytechnic University of Turin campus with the historic mixed-use destination extending to more than 150,000 sqm.

The proposed asset management strategy will seek to capitalise on the centre’s dominant catchment with a number of value-enhancing initiatives. Permissions have been granted for the refurbishment of the northern entrance, with the aim of reinforcing the 8Gallery brand and improving customer flows, as well as a c. 7,700 sqm extension, to deliver additional medium and large sized units, further diversifying the tenant mix and significantly improving the income profile.

The shopping centre benefits from excellent public transport links, with the City Centre less than 15 minutes by metro, as well as its close proximity to Turin’s ring road which provides access to a catchment area of 1.6 million people within a 30-minute drive.

Stefano Viciguerra, Joint Head, Pradera Management Italy added: “We are pleased to be working alongside AXA IM – Real Assets on the asset management and development of 8Gallery. Pradera’s Italian and international retail and leisure teams see huge potential to further enhance the attraction of such an iconic complex for the local customer base and for the increasing number of tourists visiting the city each year.”

Ian Chappell, Head of Value-Add and Development Funds at AXA IM - Real Assets, commented: “8Gallery fits with our stated value-add strategy of acquiring assets which offer significant capital growth potential and where we can leverage our pan-European local footprint to the benefit of our clients. We are pleased by this acquisition of a landmark urban shopping centre which has excellent real estate fundamentals and strong upside potential through re-positioning and an extension. We will continue to deploy capital in value-added strategies given our increasing investor interest and our focus on sourcing new opportunities in this space.” 

 (1) Source: INREV/ANREV Fund Manager Survey – May 2018– in terms of assets under management

Pradera News

Pradera agrees lettings totalling 2,500 sqm for Les Armoiries Shopping Centre in Bry-sur-Marne, France

Grand Frais and Action to start trading at Les Armoiries Shopping Centre during the first half of 2021.

Read whole story

Plus size clothing retailer complements fashion offer at Costaverde Shopping Centre

Maqueda starts trading at Costaverde Shopping Centre

Read whole story

Domoteka wins “Retail Scheme Internet Campaign of the Year” award

A golden statuette for Domoteka

Read whole story

Pradera acquires Spanish grocery portfolio on behalf of new German pension fund client

Pradera completes the acquisition of a portfolio of six hypermarket assets in northern Spain on behalf of German pension fund

Read whole story

Revealing the new Lingotto Shopping Centre in Turin, Italy

The new Lingotto Shopping Centre re-opened for trading in a former FIAT car factory following a refurbishment and extension project in excess of €20 million

Read whole story

Istanbul Cevahir awarded for Alzheimer’s disease marketing awareness campaign

Istanbul Cevahir marketing campaign comes second in Felis Marketing Awards

Read whole story

First 1 2 3 4 5  ... Last 
Background Photo:
Ragusa: Ibleo Shopping Centre