French listed commercial property company Immobiliere Frey said that its Parla Natura sustainable retail park has opened its doors in the Spanish capital. With around 18,000 m[sup]2[/sup] of photovoltaic panels on its roof, the property represents the largest green retail asset developed so far in Spain, Frey said. The project represents an investment of some EUR 25 mln.
French listed commercial property company Immobiliere Frey said that its Parla Natura sustainable retail park has opened its doors in the Spanish capital. With around 18,000 m2 of photovoltaic panels on its roof, the property represents the largest green retail asset developed so far in Spain, Frey said. The project represents an investment of some EUR 25 mln.
Parla Natura will produce 1,14 MWh of electricity per annum through 11,000 photovoltaic panels leased and operated to the Spanish solar energy company Teulades Solar. Located south of Madrid, the scheme offers 18,000 m2 of retail space and 1,200 parking spaces and has been completely leased since construction work began in January 2009. Major tenants in the scheme include Décathlon, which occupies 9,000 m2 of space, Norauto, Gifi, Casa, Cóctel (La Halle), Merkal (La Halle aux Chaussures) and Kiabi.
The centre is the second developed by Frey to be provided with photovoltaic panels on its roof. Its completion follows the opening in August this year of the Privas sustainable retail park in the Ardèche. Frey said that it plans to retain the property in the portfolio of its Spanish property arm, Frey Invest.
The project is Frey's second development in Spain, and will add to the El Golf retail park developed in Talavera de la Reina, which opened in mid-2007.
