Sambil Outlet Opens Largest Shopping Outlet In Spain

27 March 2017 – Observatorio Inmobiliario

The Sambil Outlet Madrid was inaugurated on Thursday (23 March), it is a new shopping centre concept that combines fashion outlets with restaurants, leisure and other services. With a gross leasable area (GLA) of 43,500 m2, it is the largest outlet centre in Spain and the first European project undertaken by the Venezuelan group Sambil.

According to its developers, the total investment in the shopping centre amounted to €59 million and at the time of opening, it has an occupancy rate of 85% of the GLA. It contains 130 retail premises in total and has 2,400 parking spaces. There are plans to open charging points for electrical vehicles. Sambil Outlet Madrid will create almost 2,000 direct and indirect jobs.

Ricardo and Alfredo Cohen, Directors of the Sambil Group, participated in the inauguration ceremony. They stated that “our commitment to this market is serious and we will soon be exploring new avenues for investment in this country”.

Other attendees at the inauguration of the new centre included Javier Ruiz Santiago, Deputy Minister for the Economy and Innovation, María José Pérez-Cejuela, Director General of Trade and Consumer Affairs, both from the government of the Community of Madrid; Santiago Llorente, Mayor of Leganés; and a large number of councillors from the municipal corporation. Ricardo Fontana, Minister-Counsellor of the Embassy of Venezuela, also attended, along with representatives of the country’s main retailers.

The fashion space, which accounts for 51% of the total surface area, is home to brands such as Outlet from El Corte Inglés, For & From (Inditex group), Fifty Factory (Cortefiel group) and the Outlet Sport (Intersport group), amongst others.

The food area will house the largest Simply Hypermarket in the Community of Madrid. The leisure space will include a 12-screen Odeon cinema and the largest wind tunnel in Europe, the Hurricane Factory, which will open within the next few weeks. The restaurant section will include a Burger King, Foster’s Hollywood and Grupo Vips restaurants, amongst others. There will also be an area dedicated to services.

Original story: Observatorio Inmobiliario

Translation: Carmel Drake

Corpfin Capital Will Build New Retail Complex In Alcorcón

19 October 2016 – Inmodiario

Corpfin Capital Retail Parks, a vehicle managed by Corpfin Capital Real Estate (CCREP) has acquired a plot of land in the municipality of Alcorcón, in the Community of Madrid. The plot has a surface area of 13,501 sqm and an above-ground buildable area of 8,000 sqm. It is located on the main avenue of Ensanche Sur, a new development area in the town.

The objective of the investment vehicle is to construct a retail complex that it hopes will bring life to a neighbourhood that does not currently have any retail offering. The project forecasts an investment, including land purchase and construction costs, of approximately €11 million.

The vehicle has already signed a contract with Supermercado Simply to open a 4,000 sqm store on the site. The rest of the complex (the remaining 4,000 sqm) is still being marketed and advanced negotiations are being held with several operators.

The firm considers this project to be an important stimulus for the area, given that it expects it to create around 100 direct jobs.

Corpfin Capital Retail Parks was created with the aim of acquiring land in Spain, on which to manage, develop and construct shopping centres (Retail Parks) and to subsequently lease the assets to first rate operators.

The vehicle, which has an investment capacity of almost €45 milliion, represents a way of allowing Corpofin Capital Real Estate to diversify its business, which has been focused until now on the acquisition of prime retail premises in Spain’s main cities. In this way, the company is backing a different niche in the market, namely: retail parks.

This represents the vehicle’s second operation and its first in the Community of Madrid, following the inauguration of the Las Moruchas Retail Park in Ávila in June. (…).

Original story: Inmodiario

Translation: Carmel Drake

Sambil Plans To Open 6-8 Shopping Centres In Spain

29 September 2016 – Mis Locales

The Venezuelan Sambil Group plans to open a network of between six and eight shopping centres in Spain and does not rule out expanding its business to other markets in Europe.

Nevertheless, before embarking on its new projects, the company will focus on establishing what is, for now, its only centre in Spain: the Sambil Outlet in Leganés (Madrid), which will open its doors on 24 March 2017, after more than four years of construction work. It will become the largest outlet and leisure space in Spain with a gross leasable area of 43,000 sqm.

The new centre, which will open on a site on the ill-fated M-40 and in which Sambil has invested around €55 million, will create around 1,500 jobs and require additional investment of between €25 million and €30 million to equip the premises for each brand.

According to Cohen (Director General of the Sambil Group), the company has chosen Spain to make its first foray into Europe because it was “ideal” from both a cultural and language perspective, as well as because it has a lot to offer in the corporate field and is attractive again for overseas investors.

“It is a rapidly-growing, mature and legally secure market, which needs entrepreneurship”, said Cohen, who stated that the country “has all of the tools to continue outperforming other markets around the world”.

The Executive highlighted that a company such as his, which is family based and has its headquarters in Venezuela, does not travel “7,000 kilometres” to open one shopping centre, and he added that in Spain his company’s focus is very much placed on the most populous cities -Barcelona, Sevilla, Bilbao, Valencia, etc-.

Although the group is strongly committed to the “outlet” format, it does not rule out opening “traditional” shopping centres in some of the cities, although, in both cases, they would be accompanied by leisure and restaurant facilities.

In this sense, he highlighted that the Sambil Outlet will have the largest wind tunnel in Europe and the most modern cinema screens, which will be run by the Odeon chain, which is working to make cinema-going more “accessible”.

Moreover, it will house the largest Simply (Alcampo) supermarket in the Community of Madrid.

The company thinks that between 5 and 6 million people will pass through the doors of its centre in Leganés during its first year of activity. It has faith in the success of the “outlet” format combined with leisure, which is currently fashionable in countries such as the USA (…).

“Post-crisis, the Spanish consumer is much more rational than emotional” stated the Director of Sambil in Spain, Arnold Moreno, who confirmed that the centre will open with an occupancy rate of at least 80%.

Sambil Outlet will have stores from discount brands such as For&From (the Inditex group’s footwear label), Mango, Fifty Factory (Cortefiel), Décimas and Xti, as well as “low cost” fashion stores.

The Sambil Group has constructed more than 500 residential buildings and offices and owns a portfolio of eight hotels and thirteen shopping centres – ten located in Venezuela, one in the Dominican Republic and one in Curaçao.

Original story: Mis Locales

Translation: Carmel Drake