M Core has announced the acquisition of Via Sabadell, a retail park in northern Barcelona. This is M Core’s third investment in Spain.
Via Sabadell is one of the dominant retail parks in Sabadell, the fourth-largest town in the province of Cataluna, located on the outskirts of northern Barcelona.
Spanning c. 100,000m2, the acquired retail park has a diverse tenant mix including IKEA, Leroy Merlin, Media Markt, WALA and Pepco, with the ground floor of the scheme fully leased to top tier tenants.
With a prime location, Via Sabadell serves a total catchment area of 1.6m inhabitants (30 minutes) and an immediate catchment area (10 minutes) of 750k inhabitants. The retail park is well served by public transport with excellent connections to the city of Barcelona by way of the C-58 highway and the rest of the nation through both rail and Sabadell Airport.
Sebastian Macdonald-Hall, Chief Investment Officer (Europe) of M Core, commented: “The acquisition of Via Sabadell marks a key milestone in our plan to create a substantial investment portfolio across Spain and Portugal. As the portfolio expands in these territories, we plan to create a proprietary management platform for effective and cost-efficient management.”
Oliver Fraser-Looen, retained adviser to M Core on European Acquisitions stated: "The acquisition of Via Sabadell reflects M Core’s commitment to investing in high-potential value-add retail assets.”
Image source - M Core.
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