NEINVER has completed a strategic repositioning of Castel Guelfo The Style Outlets near Bologna, transforming underperforming retail space into a food plaza that signals a broader shift in outlet centre economics. The Spanish property group's decision to sacrifice leasable retail area for dining reflects growing investor recognition that food and beverage tenants now deliver higher returns per square metre than traditional fashion outlets in secondary locations.
The refurbishment converted a former retail zone into a dining destination featuring terraces, new restaurant concepts, and a Mondadori bookstore. New F&B operators include Roadhouse Meatery, Billy Tacos, I Love Poke, and Alice Pizza, joining existing tenants Farinella and Pastaria. The communal plaza design encourages extended dwell time, a critical metric for driving ancillary spend across the 24,000 sq m centre's 110 stores.
Enhanced landscaping with decorative trees, flowering shrubs, and natural materials creates what Eduardo Ceballos, Asset Management Director at NEINVER Group, describes as a strategic evolution. "The opening of the new food plaza is a key outcome of Castel Guelfo's strategic refurbishment. By expanding the dining offer and redesigning communal areas, we are reinforcing the centre's positioning as a destination that combines shopping, gastronomy, and leisure," he said.
The repositioning addresses a critical challenge facing outlet operators, cannibalisation from e-commerce has compressed fashion retail margins whilst experiential F&B concepts prove more resilient to digital disruption. For investors, the strategic shift demonstrates how existing outlet assets can be reimagined without ground-up redevelopment, protecting capital values in an uncertain retail environment.
Located 20 minutes from Bologna with access to the Romagna Riviera, Ferrara, and Ravenna, the centre targets both domestic shoppers and international tourists. Anchor tenants include ASICS, Calvin Klein Jeans, Colmar, Gap, Puma, and Kiko, whilst community-focused amenities like tourist information services and children's play areas broaden the demographic appeal.
NEINVER manages 17 outlet centres and four retail parks across six European markets, France, Germany, Italy, Poland, Spain and the Netherlands, representing over 800 brands. The company's Building Tomorrow sustainability roadmap underpins its asset management strategy, though the Castel Guelfo project's primary driver remains commercial performance optimisation rather than environmental credentials.
People mentioned:
Eduardo Ceballos, Asset Management Director, NEINVER Group
Companies mentioned:
- NEINVER, Spanish multinational property developer and outlet operator
- Mondadori, Italian bookstore chain
- Roadhouse Meatery, restaurant operator
- Billy Tacos, restaurant operator
- I Love Poke, restaurant operator
- Alice Pizza, restaurant operator
- Farinella, restaurant operator
- Pastaria, restaurant operator
- ASICS, sportswear retailer
- Calvin Klein, fashion retailer
- Colmar, fashion retailer
- Gap, fashion retailer
- Puma, sportswear retailer
- Kiko, cosmetics retailer
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