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retail-shopping-centers Market News: Spanish Real Estate Intelligence

Turin: inaugurated the new Lingotto shopping centre
21 October, Il Giornale The restructuring works for the Lingotto shopping centre in Turin have been completed. The former 8 Gallery has been extended by 800 Sq m, covering a surface of nearly 30,000 Sq m and offering 25 shops developed over two levels. The shopping centre has been rebranded as Centro Commerciale Lingotto, from the name of the iconic building it occupies. The whole operation meant an investment of 20 million €. Source: Il Giornale Translator: Cristina Ambrosi
Investing in retail still offers good returns despite the lockdown
05 October, Il Sole 24 Ore Analysing the trends of commercial real estate, World Capital and Nomisma reported promising results for investments in retail properties despite the lockdown. Considering the market in Milan, commercial properties located in high streets and secondary streets recorded respectively average gross yields for 3.3% and 5.7%. The gap is due to the high demand for spaces on the main streets, although they’re a less profitable investment because of the high price. Concerning the various sectors, high street fashion is seen as a safe investment. On the other hand, bank branches and restaurants have lost appeal, as there are fewer people around due to lockdown and the rise of smart working. Supermarkets have gone in the last ten years from 7.5% to 5% yields. However, the demand hasn’t reduced, as they’ve shown to be able to generate revenues also in critical times despite the lower returns. Source: Il Sole 24 Ore Translator: Cristina Ambrosi