28 July 2016 – Press Release
The international real estate consultancy Catella has advised a Spanish investment vehicle on the sale of two retail premises, located in Burgos and Cádiz, and leased to Massimo Dutti, Lefties and Desigual.
The premises in Burgos are located on Calle Vitoria, 17, but are also accessible from Calle de la Puebla, 24-26. The asset is located on the best shopping street in the city, home to high profile tenants such as Zara and El Corte Inglés. It has a total surface area of 1,929 sqm, distributed over the ground floor, mezzanine level and basement. And it is leased to the Inditex Group for use by its commercial brands Massimo Dutti and Lefties.
The premises in Cádiz are located on Calle Columela, 23 (pictured above), the main shopping street in the city, alongside brands such as Mango, Zara and Massimo Dutti. The property has a total surface area of 225 sqm distributed over the ground and first floor. It is leased to the fashion chain Desigual, which is going to introduce its new concept soon.
According to Pablo Carvajal, Director of Capital Markets at Catella, “given the absence of products with attractive returns in the prime markets of Madrid and Barcelona, investors are now showing more interest in the best shopping streets in other cities, where they are finding high yields and first-rate tenants”.
Catella is a listed international real estate consultancy and a leader in the Europen market. Catella adds value by combining its extensive knowledge of local markets with its own investment bank approach and its great capacity to generate investment opportunities.
Original story: Press Release
Translation: Carmel Drake