Park Avenue scores hat trick of new lettings (ES)

Park Avenue, one of Northern Spain's leading fashion outlet centers, has announced a hat trick of new lettings. Nam restaurant and fashion retailer Blue Rise will both be opening units this month, whilst another fashion label, Nautica, is currently operating from a temporary store before moving to a permanent location later in the autumn.

Portuguese fashion retailer, Blue Rise, will shortly be moving into the largest unit at Park Avenue having taken a 1,060-m² store located next to Mango and Cortefiel. Spanish cuisine restaurant, Nam, has taken a 59-m² unit, utilizing the terraced area to offer visitors an enjoyable location to sit and relax. While prestigious fashion retailer, Nautica, has moved into a temporary unit prior to moving into a 120-m² permanent store later this year. Negotiations are also underway with a major international sport retailer who is aiming to be trading from Park Avenue in time for Christmas.

Park Avenue's status has been further enhanced following the release of sales figures, demonstrating that the Outlet continues to perform successfully. Like for like sales figures for June stood at an impressive +31%, reflecting the strength of the center's location and its unique position in Northern Spain.

Michel Nangia, Senior Manager at Resolution Property commented: "We started the year on a high as we announced increased sales and footfall figures for the second consecutive year and we're delighted that Park Avenue continues to grow from strength to strength.

"Lettings on this scale indicate that a degree of stability is returning to the retail market. While the Spanish market and in particular, the Basque Country, remains a challenging environment, we believe that our proactive, hands-on asset management approach has established Park Avenue as a sought after location where leading operators want to trade. We remain committed to working proactively with our retailers to ensure we offer our customers the best possible shopping experience."

Park Avenue is managed by Jones Lang LaSalle

Source: Park Avenue

Related News