Orion & Wizink Abandon Their Plans to Build a Macro Shopping Centre in Sevilla

Although the project received the green light in January, the opening of the Lagoh shopping centre in 2019 and the rise of e-commerce have forced a rethink.

The impact of the coronavirus pandemic on retail has led to the definitive abandonment of the plans by the investment fund Orion and Wizink to build the Sevilla Park macro-shopping centre. The firms had been planning a large investment in the project, of up to €300 million, according to ABC Sevilla.

The idea to build this 150,000-square-metre shopping centre was originally conceived by the French fund Orion – Neinor’s largest shareholder – and the cultural promoter Octagon – which manages the former Palacio de Deportes in Madrid (currently the Wizink Center) – back in 2014. It was called Sevilla Park and was going to house a large auditorium with capacity for 20,000 people on a site owned by the port of Sevilla and the CLH group.

Octagon & Orion will Invest €400M in Sevilla Park

13 March 2018 – Eje Prime

Sevilla Park has a start date. Construction of the concert venue and shopping centre is going to begin in March 2019 and will involve an investment of €400 million by the promoters of the project, the marketing and entertainment agency Octagon and the investment fund Orion.

The two companies have reached an agreement with the Town Hall of Sevilla to start building work on land in the Port of the regional capital. Nevertheless, the President of Octagons S2, Xavier Bartrolí, said at a press conference that, if the deadlines are not adhered to, it will be very difficult for the project to continue in Sevilla.

“It is not that we lack energy, but there comes a time when you start to feel a little fatigued”, recognised the director, whose plan with Sevilla Park is for it to start operating in 2020, the year in which the first international artists will be hosted in the space following 18 months of construction work, according to ABC de Sevilla.

The obstacle that the property developers had found until now was the transfer of some CLH deposits to another location from the port, a pitfall that has now been overcome, although it has resulted in an extra cost of €30 million for the investors.

Original story: Eje Prime

Translation: Carmel Drake