02/03/2021 | Press release | Distributed by Public on 02/04/2021 05:15
• The opening is scheduled for March and April
• Los Arcos' shop will occupy a gross leasable area of 1,250 sqm and Bahía Sur will have an area of 1,120 sqm
• Castellana Properties has begun a strategy of remodeling its assets and acquired from El Corte Inglés its facilities in Los Arcos and Bahía Sur, where it has invested more than €24 M
Castellana Properties has signed with the Portuguese retail company Espaço Casa the opening of two new shops, one in Los Arcos shopping centre (Seville) and the other one in Bahía Sur (Cádiz), which are scheduled to open in March and April. Los Arcos and Bahía Sur are strategic commercial locations in their respective areas and receive 13 million visits each year.
The Portuguese company, leader in retail sales and specialized in the commercialization of household goods, will occupy a total surface area of 2,370 sqm in both shopping centres. Specifically, Los Arcos' shop will have 1,250 sqm and Bahía Sur will have an area of 1,120 sqm. These openings join the 29 new brands that have been opened or refurbished in these shopping centres over the last year.
These agreements reinforce the importance of Los Arcos and Bahía Sur for Castellana Properties, as well as the firm's commitment to an active portfolio management.
The 39,569 sqm redevelopment plan for Los Arcos and Bahía Sur
These projects are part of the firm's strategy to renovate and enlarge its assets, which has been underway since the end of 2019 after the acquisition of El Corte Inglés' facilities in Los Arcos and Bahía Sur. Castellana Properties has invested more than €24 M for the refurbishment and remodeling of these centres. In this regard, it is worth highlighting the agreement with MediaMarkt for the opening in Los Arcos this February of its largest shop in Seville and the opening of the Yelmo premium cinemas in the Bahía Sur shopping centre last December.
Julio García, Chief Operating Officer of Castellana Properties, stated: 'We are delighted to announce the opening of these shops, which will improve the retail mix of Bahía Sur and Los Arcos, and it will also demonstrate the commitment to the physical shop in our country. The good footfall figures and sales that are being recorded in retail premises open to the public ratify the willingness of Spaniards to recover normal economic activity and once again reaffirms the potential of the retail sector and the physical shop'.