Lar España Invests €2M on Renovation of As Termas Shopping Centre in Lugo

31 August 2018 – Eje Prime

Lar España is revaluing one of its assets. The Socimi specialising in retail is going to invest €2 million in the renovation of its As Termas shopping centre, located in the city of Lugo.

The building work will begin in September and is expected to be finished by the end of the year. The company has set itself the objective of improving the restaurant areas and the overall comfort of the centre to “allow greater convenience for both customers and tenants”.

The company is also going to launch other renovation projects soon, including the refurbishment of the following shopping centres: Megapark in Vizcaya; Ànec Blau in Barcelona; and Portal de la Marina in Alicante. As at 30 June 2018, the market value of Lar España’s asset portfolio amounted to €1.58 billion.

During the first half of 2018, Lar España invested €41.3 million, with the largest amount being allocated to the development of the Palmas Altas shopping centre in Sevilla, followed by the Lagasca 99 residential development in Madrid and the VidaNova Parc retail park in Valencia.

Original story: Eje Prime

Translation: Carmel Drake

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