Tag: megastore

Mango Sells its Store on c/Corrida in Gijón & Leases it Back for €30,000/Month

28 October 2018 – El Comercio

Mango has sold the building located at number 28 Calle Corrida, in Gijón, which has housed its megastore in the city since 2015, to a domestic investor for €8 million. The Catalan multi-national textile firm acquired the iconic property, which used to house the former headquarters of Banesto, in 2014. At the time, it paid Banco Santander €6.2 million for the property. The building work for the commercial conversion of the building, which spans a surface area of 1,642 m2, spread over the ground first and attic floor, cost another almost €2 million.

On this occasion, the sale operation has been undertaken as a sale&leaseback deal (…). In other words, Mango has sold the asset on the city’s main high street but will remain there as the tenant, paying a sizeable rent to the new owner: more than €30,000 per month (…).

That is not the only change happening on Calle Corrida over the coming months. The Inditex Group is looking to relocate some of its brands onto the Golden Mile of Gijón despite the shortage of available units (…).

In terms of prices, according to Alejandro López, lawyer and director of the real estate consultancy firm Noxtrum Novotec, “the average rental price is €62/m2/month, with variations ranging from €50/m2/month to €70/m2/month”.

Original story: El Comercio (by M. Moro)

Translation: Carmel Drake

Civisa’s Owner Buys 3 Buildings in Central Valencia to Convert into a Hotel

16 April 2018 – Eje Prime

Civisa doesn’t want to miss out on a business opportunity in the real estate sector in Valencia. The Mediterranean capital is one of the markets that is booming the most in the country, and so the new and, above all, the old players, in the local real estate sector, are bidding hard to undertake new projects. Such is the case of the driving force behind Civisa, Andrés Ballester, who has purchased three adjoining buildings in the centre of Valencia to convert into a new hotel.

The residential blocks are located at numbers 28, 30 and 32 Calle del Mar, very close to Plaza de los Patos and Plaza de la Reina. In this enclave, Ballester has acquired three properties with a combined surface area of almost 370 m2, which will allow it to construct a significant number of rooms, according to reports from Valencia Plaza.

The founder of Civisa has already requested a construction licence from the Town Hall for his hotel project. The measures that the businessman will have to take into account include respecting the façade of the central building, which has a commercial space on the ground floor, and the respecting the height of the property following the renovation, given that it may not exceed the limit for the area.

This new hotel in the centre of Valencia is not the only real estate project in which Ballester has been immersed in recent times. Recently, the businessman participated in another operation through which Inditex is going to open its first Zara megastore in Valencia. It is going to be located on Boulevard Austria and is being renovated in its entirety by the multinational textile company.

Original story: Eje Prime 

Translation: Carmel Drake

Amazon Will Invest €200M In Its New Centre In Barcelona

29 June 2016 – Expansión

Amazon’s new logistics centre in El Prat de Llobregat (Barcelona) will be ready in the autumn of 2017. Yesterday, the US multinational e-commerce giant completed the acquisition of land covering 150,808 sqm, next to the airport, from the Generalitat for €30 million. It also announced that it will hire 1,500 direct workers between now and 2020.

This represents the largest investment in terms of job creation in Cataluña in the last five years. The project, financed in its entirety by the group, will absorb a budget of more than €200 million, including the cost of the land, according to sources from Amazon.

The e-commerce giant, founded by Jeff Bezos, will construct a logistics platform in El Prat with a surface area covering more than 60,000 sqm, the equivalent of eight football pitches. It will be its second largest warehouse in Spain, after its complex in San Fernando de Henares (Madrid), which it acquired in 2012. That site has a surface area of 28,000 sqm but Amazon is currently working to expand those facilities, which means that the two centres will be around the same size.

Amazon’s Catalan platform will allow the company to cope with its strong growth, satisfy future demand and ensure that its deliveries to clients are fast and reliable. The centre at El Prat will not only supply the Spanish market, it will also handle orders from across Europe, given that the complex will be incorporated into Amazon’s European logistics network, comprising 29 centres located in seven countries and capable of supplying customers with the more than 132 million products available in its online megastore.

Amazon Fulfillment, the group’s logistics company, has hired the construction company Dragados – which forms part of the ACS Group – to carry out the building work, which will start on Friday. The aim is that this centre will be operational by the autumn of 2017 and it will open with an initial workforce of 500 people. That figure will gradually increase over the next three years, to reach 1,500 people by the end of 2020.

Original story: Expansión (by S. Saborit)

Translation: Carmel Drake

Primark To Lease 6 Floors In BBVA’s HQ In Bilbao For 30 Years

14 December 2015 – Cinco Días

The retail group Primark is set to open its first store in Bilbao, in one of the most iconic buildings in the regional capital. The multi-national company, which specialises in the low-cost clothing segment, will occupy six floors of the BBVA skyscraper, one of the tallest buildings in the city (…).

The building is located at number 1 Gran Vía of the Basque city, a very commercial area (and next door to El Corte Inglés). Located on Plaza Circular, tens of thousands of people walk past its doors on a daily basis. Primark has reached a 30-year rental agreement and hopes that around 5,000 customers per day will visit its megastore.

The building does not house BBVA’s headquarters, given that the bank has its registered office in nearby Plaza de San Nicolás, in the heart of the old town.

The subsidiary of the multi-national company Associated British Foods has 41 stores in Spain. It already has outlets in Euskadi, with stores in the Ballonti (Portugalete) and Boulevard de Vitoria shopping centres.

Original story: Cinco Días (by Javier Vadillo)

Translation: Carmel Drake