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

The Covid-19 pandemic has led the authorities to impose restrictive measures on the population that have had an impact on the real estate sector.

RPPSE Espacio Oviedo, owner of the centre, has filed for voluntary bankruptcy for its Asturian centre due to the impact of the crisis, which has caused difficulties in terms of access financing and investors.

Intu's shopping centres, Lar's supermarkets and Inditex's stores earmarked for closure are just some of the operations that are already on the market and that will drive up investment in 2021.

Intu Eurofund Valencia has had to cover an equity hole amounting to more than 11 million euros, while it continues to seek a partner to take over the British firm's stake.

The manager, created by the former heads of Corpfin Capital and Ten Brinke in Spain, is negotiating two new operations to add to the five projects it launched in 2020.

The textile giant is going to close 79 stores across the country between now and April, including a few on the most sought-after retail streets in Spain, namely: Gran Vía and Paseo de Gracia.

The company has projects in the urban processing phase in Córdoba and the northwest of the Community of Madrid, in addition to 6 others that it is developing across Spain.

The British firm is negotiating with the Socimi regarding the purchase of 22 supermarkets occupied by Eroski, which together span a gross leasable area of 28,000 m2.

The Covid-19 crisis has come at a time when the prices of commercial premises have not yet recovered from the previous recession, the consequences of which lasted for five years.

The new Ikea store, which will be located on Avenida Diagonal, 445 in Barcelona, is scheduled to open at the end of 2021.