8 October 2018 – Eje Prime
Eurofund Group has been given the green light for its macro-project in Lleida. Last Friday, the plenary of the Town Hall of Lleida capital approved the commercial development of the Torre Salses project, a retail park complex with a surface area of 56,000 m2. The construction work is expected to begin in the autumn of 2019, according to comments from sources close to the operation speaking to Eje Prime.
The plots on which Torres Salses is going to be built are located between the Magraners and La Bordeta neighbourhoods and “will involve their integration with the city centre”, explained the spokeswoman for the municipal government, Montse Mínguez, recently.
After passing the Town Hall’s filter, Eurofund is now only awaiting the commercial licence to be able to start work on the development of the land. On 21 September, the Informative Committee for Management and Development Policies in the City and Sustainability for the Town Hall of Lleida reported favourably regarding the urban planning process for Torre Salses. It also endorsed both the execution of the widening and extension of the Víctor Torres road and the modification of the urban development order for SUR 42.
The Town Hall approved those files on the understanding that, amongst other aspects, the construction of the complex would strengthen interest in the area for the development of large areas of amenities in the neighbourhoods of La Bordeta and Magraners. Moreover, Eurofund will bear some of the costs of the work to build the roads to access the future retail park complex.
Similarly, the Town Hall trusts that the commercial macro-project will facilitate the development of residential projects, in particular, those dedicated to social housing units. According to the Town Hall of Lleida, Torre Salses will have an economic impact of €362 million on the city.
Owner of Puerto Venecia and Dolce Vita
Eurofund currently owns more than €3.5 billion in commercial assets, including developed centres and those under construction. The fund manager was founded in 1994 and its first major development was Parc Vallès in Terrassa (Barcelona).
With the new upward economic cycle, the company led by Ian Sandford (pictured above) reactivated its investment in the commercial real estate market with Puerto Venecia, a mega shopping centre spanning 206,000 m2 inaugurated in Zaragoza in 2012.
Original story: Eje Prime (by J. Iquierdo & P. Riaño)
Translation: Carmel Drake