Park Avenue, one of Northern Spain's leading fashion outlet centers, has announced increased footfall and like-for-like sales for the second consecutive year. Owned by Resolution Property, the outlet welcomed almost three million visitors during 2009, a 16% increase compared to 2008. Despite the prevailing economic conditions, the outlet also enjoyed an increase in like-for-like sales of over 12%.
Michel Nangia, Senior Manager at Resolution Property commented: "We're delighted to have achieved increased footfall and sales for the second year running. These figures reflect the strength of the location and the centre's unique position in Northern Spain."
"Our proactive, hands-on asset management approach has significantly helped us navigate what has been a tough time over the past year, as well as ensuring that we've continued to receive interest from internationally recognised retailers who wish to locate here. We remain committed to working proactively with our retailers to ensure we offer our customers the best possible shopping experience."
Egoitz Barturen, Store Manager at PUMA said: "Although we have been trading in the centre for no longer than fourteen months, the results regarding footfall, capture rate and sales, could not be any better. The 2009 balance has been superb, and the forecast for the 2010 addresses the same positive trend not only in our business, but also in the outlet gallery at Megapark."
Javier Anton, Coordinator of GEOX across Northern Spain added: "The results of the 2009 in Park Avenue have been very positive, exceeding the expectations; quite impressive considering the generalised and negative situation of retailers in this economic context."
Park Avenue forms part of one of Spain's largest retail and leisure destinations, Megapark Barakaldo. The centre is the only fashion outlet within 270 km and offers a catchment of 3.5 million people with earnings 28% higher than the national average living within 90 minutes. One third of this catchment lives within 15 minutes. It is home to a wide range of retailers such as Mango, Supersport (an official licensee for Nike, Adidas and Reebok sports brands), Levi's, Fifty Factory, Calvin Klein, Jota Más Ge, Desigual, Geox and Puma.
Megapark Barakaldo, which Resolution Property acquired in January 2006, is the largest retail and leisure destination in Spain combining approximately 18,700 m² (201,000 sq ft) of leisure space, including an 11-screen multiplex and IMAX cinema, with approximately 86,300 m²(929,000 sq ft) of retail warehousing. Park Avenue contributes a further 20,000 m²(215,000 sq ft), over some 70 stores, of dedicated outlet space. The center provides covered, free parking with direct access to stores.
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