Torre Sevilla Shopping Centre to Open in September with 92% Occupancy Rate

20 July 2018 – Eje Prime

Torre Sevilla is getting ready to open with almost a full house. The complex in the city of Sevilla, which will open its doors in just two months time, has commercialised 92% of its space. In recent weeks, the managers of the complex have agreed the entry of several new operators.

In the field of fashion, H&M, Parfois and the jewellery chain Time Road are going to open stores in Torre Sevilla, following in the footsteps of other groups such as Primark, Mango, Women’s Secret, Springfield, Calzedonia and Foot Locker, amongst others.

The shopping centre has also announced the arrival of the supermarket chain Día, as well as several telecoms operators, including Movistar and Vodafone. The gastronomic offer is going to comprise companies such as Udon, Vips, La Tagliatella, Burger King and the bakery chain Granier.

The opening of the complex will complete the Torre Sevilla architectural project, in which CaixaBank has invested more than €320 million. In addition to a shopping centre, Torre Sevilla contains an office block, the Eurostars Torre Sevilla hotel, CaixaForum Sevilla and Magallanes Park.

Designed by the Argentinian architect César Pelli, the retail complex comprises two large buildings, which span a gross leasable area (GLA) of 26,700 m2 and a constructed surface area of 43,000 m2.

Original story: Eje Prime

Translation: Carmel Drake

Foot Locker To Open A Megastore On c/Preciados

16 April 2015 – Expansión

The sports equipment company is going to lease the building located at number 6 on the Madrid street, which has a surface area of 2,000 square metres.

Changes are afoot on Spain’s most sought after shopping street. In a few weeks time, the building located at number six Calle Preciados in Madrid will house a new tenant: the American company Foot Locker. The firm, which specialises in sports equipment will replace H&M, which vacated the property at the end of March to open its flagship store in Spain.

Foot Locker – which until now leased a smaller property at number 17 (on the same street) – will incorporate its signature brand the “House of Hoops” into its new premises in Preciados; the brand was created by the American company in conjunction with the sports brand Nike. The decision to open a flagship store, which will include this new concept, comes after Foot Locker has been testing its new brand, which specialises in basketball-related products, in a pop-up store in other premises on Gran Vía, 36, just a stone’s throw from Preciados.

The building, which is owned by a Spanish family office, has a surface area of 1,960 square metres, distributed over six floors. CBRE advised on the transaction.

The move represents the largest rental transaction involving retail premises on the Spanish high street in 2015. There have not been any major changes of tenants on Preciados for almost two years; the Madrid street competes with Portal del Ángel in Barcelona as the most expensive shopping street in Spain.

“It is a highly sought-after retail area that is very popular with large brands, and so it is rare for property to become available”, says the consultancy firm Ascana.

Last year, only four stores had a change of tenants and only one of those affected premises larger than 100 square metres. Specifically, a store measuring 110 square metres, which is now leased by the make-up firm Mac, after Bijou Brigitte vacated the property. Numerous offers are now expected for the premises at number 17, which Foot Locker has left empty.

Rental prices

This scarce supply has meant that rental prices on Preciados have not been hit by the decreases experienced on properties in the rest of the Spanish market. There, rental prices reach €248/month per square metre for the smallest premises (those measuring between 100m2 and 200m2), according to real estate sources.

Rental prices in the larger stores, such as the one leased by Foot Locker, are lower, amounting to around €100 per square metre per month.

Original story: Expansión (by Rocío Ruiz)

Translation: Carmel Drake