Wereldhave buys retail leisure center in Spain (ES/NL)

Wereldhave has announced the acquisition, on July 20, 2007, of a retail and leisure center in Collado Villalba, Spain, 41 kilometers northwest of Madrid. The purchase price amounts to €53 million. The net initial yield amounts to 6.25%.

The Planetócio center is situated next to the highway Madrid-La Coruna and was opened in 2001. It provides 22,666 m² lettable area with 980 parking spaces. The retail and leisure center is divided into 93 units, spread over three floors, with a large supermarket, several fashion shops and restaurants, a cinema, a fitness center and an indoor ice skating track. The branch mix consists of 36% shops, 33% leisure and 31% restaurants. The center is almost fully let.

Planetócio has a primary catchment area of 200,000 inhabitants. In the next decade, over 43,000 new homes will be built in this area.

Source: Wereldhave

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