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Mapic News 2014

TREND IN EUROPE IS TOWARDS IMPROVING 'OUTMODED' SPACE

Refurbishment and quality asset management is the "name of the game" for the next decade in shopping centre investment, a leading European fund manager has said. Speaking to Mapic News, Neil Varnham, managing director of international real estate fund and asset management firm Pradera, said that managers should see opportunities in improving existing centres rather than new acquisitions as an excess of outmoded retail space emerges in Europe. He added: "The next 10 years will be all about asset management not acquisitions. There are a lot of centres in Europe that are outdated; there are very few markets which need new space but there are opportunities to turn shopping centres around".

Eduardo Noguera said that the "pendulum has swung completely" in the Southern European investment market over the past 18 months, with capital increasingly abundant in the market and yields moving rapidly. 

But Nogeura warned that retailers are still reticent about expansion in Southern Europe, where wage growth and consumer confidence are both progressing slowly. He said that Pradera is looking positively at the market but is considering potential investments cautiously and "on a case-by-case basis".

Through its Pradera European Retail Fund (PERF), the firm has just announced a raft of retail signings in Spain, with over 16,000 sq m of space going to brands including H&M and home appliances retailer Media Markt.

Source: MapicNews, 2014

 

Pradera News

Llobregat Shopping Centre in Barcelona, Spain, promotes sustainable mobility with “Park & Ride”

First ever “Park & Ride” in a shopping centre in the region officially launched this week

Read whole story

Back by popular demand: Homepark Targówek, Warsaw, Poland, brings back the Domomarket Craft Fair

Homepark Targówek has announced the return of the popular Domomarket Craft Fair on 17-18 September

Read whole story

Leading fresh food chain Grand Frais opens at Les Armoiries Shopping Centre, Bry-sur-Marne, France

1,925 dedicated to high quality fresh produce at competitive prices

Read whole story

Homepark Wuerzburg, Germany, welcomes new anchor tenant

OPTI-Wohnwelt opens 10,000 sqm store at Homepark Wuerzburg

Read whole story

Bottega in Bio expands footprint with new opening at Le Due Valli Shopping Centre, Pinerolo, Italy

Natural, organic beauty and well-being Italian retailer opens at Le Due Valli

Read whole story

Trafford Centre launches its biggest external live event ever

Trafford Centre has unveiled a vast live event to entertain visitors this summer

Read whole story

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Background Photo:
Ragusa: Ibleo Shopping Centre