French property group Klepierre and its management arm Segece opened the new La Gavia shopping centre in Madrid's Ensanche de Vallecas urban project this week. Comprising more than 110,000 m[sup]2[/sup] of retail space, La Gavia is the largest shopping centre in the Spanish capital.
French property group Klepierre and its management arm Segece opened the new La Gavia shopping centre in Madrid's Ensanche de Vallecas urban project this week. Comprising more than 110,000 m2 of retail space, La Gavia is the largest shopping centre in the Spanish capital.
Klépierre has invested EUR 220 mln in the project which is anchored by Ikea and Carrefour and comprises a total of 170 retail units. The centre also provides over 5,000 parking spaces on an underground and ground level. The mall is located in the new PAU Ensanche de Vallecas urban district of Madrid, which today has a population of 240,000.
Separately, Klépierre said that it has completed the extension of its Saint-Orens shopping centre located to the southeast of Toulouse. The mall has doubled in size with the two-phase opening of a 11,000 m2 extension. Saint-Orens, which today has nearly 110 retail outlets, includes 37,000 m2 of gross lettable space.
Originally opened in April 1991, the mall was acquired by Klépierre in 2004 from Rémy Nauleau, a member of the Leclerc retail group. The deal included an agreement with the seller to extend and renovate the Leclerc hypermarket. The acquisition was finalised in June 2007. Ségécé handled the leasing phase of this project, while the developer was SAS Promorens.
The total investment in the project for Klépierre (75.8%) and its partner BNP Paribas Assurances (24.2%) came to EUR 90.3 mln. Net annual rents of this extension will reach EUR 5.6 mln.
