• Today, the Mayor of Seville, Juan Espadas Cejas paid a visit to Seville’s leading shopping centre just before the new extension and refurbishment plans designed by Castellana Properties are due to get underway.
• Deeply committed to actively managing its portfolio, Castellana Properties will have invested a total of over €180 million in the shopping centre since it first acquired Los Arcos in 2018 and once these refurbishment works are completed.
• In recent months, Los Arcos has welcomed a 2,500 sqm MediaMarkt, a 3,500 sqm Mercadona, while a new Portuguese homeware chain, Espaço Casa, has also taken a 1,250 sqm unit. Household names such as Decimas, Etam and Miniso and many others have also snapped up space in Los Arcos.
Madrid, 14 September 2021. Castellana Properties, the specialist retail property acquisition, management and refurbishment firm listed on the BME Growth, were proud to receive a visit today from the Mayor of Seville, Juan Espadas Cejas. The purpose of the visit was to show the Mayor around the facilities of Seville’s number one shopping centre, present the company’s plans for the upcoming extension and the investments it intends to make following its recent acquisition of the office building (with a GLA of over 4,600 sqm) adjacent to the shopping centre.
Deeply committed to actively managing its portfolio, Castellana Properties will have invested a total of over €180 million in the shopping centre since it first acquired Los Arcos in 2018, and once these refurbishment works are completed. Investments that have been focused on modernising, revamping and extending the centre to improve its retail mix and better serve the needs of the people of Seville.
In 2019, Castellana acquired the Hipercor supermarket for €17.3 million, and has since spent a further €6.3 million in redesigning the space. Now almost fully completed, the brands newly installed as part of this project have already opened their doors to the public and have proven a clear hit with customers. The last few months have also seen Los Arcos welcome MediaMarkt which has occupied a 2,500 sqm unit with its new store format, Mercadona which has opened a 3,500 sqm store and a new Portuguese homeware chain Espaço Casa that has also taken a 1,250 sqm unit. Household names such as Decimas, Etam and Miniso and many others have also snapped up space in Los Arcos.
Castellana Properties fully invested in Seville
This new extension project – which will see Castellana Properties inject €15.6 million into the property over the next few years – will bring a leisure and food court area packed with new and exciting brands to Los Arcos in the space that is currently occupied by the office building acquired in April. Works are set to commence in early 2022, with the first establishments due to open in H1 2023.
Juan Espadas Cejas, Mayor of Seville highlighted how “the investment being brought to Los Arcos shopping centre is a major factor in helping to drive the economy not only of the city but of a neighbourhood that is currently undergoing major urban regeneration and development. Now more than ever, following the Covid-19 health crisis, projects such as this are key to Seville’s recovery and for generating new opportunities in the city”.
Alfonso Brunet, CEO of Castellana Properties, added “we are extremely excited to be embarking on this new extension phase at Los Arcos in Seville, one of the largest centres in our portfolio. Andalusia is our core region, as it is where we have several centres that are the number one go-to destinations in their respective catchment areas, such as Bahía Sur, Granaíta and Puerta Europa. This new plan – being rolled out in addition to the recent refurbishments and new openings at the centre – that we have presented here today before Mayor Juan Espadas Cejas will allow Seville’s leading shopping centre to welcome another 12 new establishments in 2023”.