Sonae Sierra and Miller Developments are to develop a retail park in Viana do Castelo, northern Portugal. The two companies, an international shopping centre specialist and a UK commercial property developer respectively, are to invest EUR 13 mln in the Lima shopping mall, scheduled for inauguration next spring.
Sonae Sierra and Miller Developments are to develop a retail park in Viana do Castelo, northern Portugal. The two companies, an international shopping centre specialist and a UK commercial property developer respectively, are to invest EUR 13 mln in the Lima shopping mall, scheduled for inauguration next spring.
It will be built on a 27,664 m2 site, with a gross lettable area of 10,723 m2. The park will feature a set of 12 retail units, two of which will be large stores already let to Maxmat and Moviflot, plus two restaurants and
416 parking spaces. The development will serve a population of around 130,000 inhabitants in a 30-minute catchment area and is expected to benefit from 1.1 million visits per year, while producing a first year income of EUR
13 mln.
The park represents the fourth project in Portugal resulting from the partnership between Sonae Sierra and Miller Developments. They are also developing the Setubal retail park. Two of Sonae Sierra's shopping and leisure centres, RioSul and Mediterranean Cosmos in Greece, have been nominated for the 2007 European Shopping Centre Awards.
