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Company Profile Spain ENG
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Redevco Retail España, S.L.C/ José Ortega y Gasset 20, 6º28006 Madrid España
T +34 91 432 32 30F +34 91 432 32 34E [email protected]
www.redevco.com
This brochure is printed on TOP10 Green Gloss paper 100% post-consumer FSC Recycled certified fibres and PCF (Process Chlorine Free).
Amsterdam, November 2012
Realized by:MobGen, Amsterdamwww.mobgen.com BUSINESS IN BALANCE
Company Profile 2012-2013
Gijòn, Spain
SPAIN ANd PortUgAL
Gran CanariaFuerteventuraTenerife
La Palma
Mallorca
Valencia
Castellón
Málaga
Sevilla
Cádiz
Lisboa
Zaragoza
Madrid
Guadalajara
Valladolid
Vigo
Braga
Porto
La Coruña
Gijón
OviedoSan Sebastián
Bilbao
Barcelona
redevco is an independent, international real estate company managing and developing one of the largest retail portfolios in Europe. the portfolio comprises more than 600 properties, many in top locations on the main high streets of major European cities. We focus on prime retail offering high growth potential. Most of our properties are in historic city centres, large retail parks and shopping centres. our tenant base comprises many major national and multinational companies throughout Europe.
Quality and sustainability are key words for the redevco portfolio. We have a highly experienced team thatfocuses on the management, development and value enhancement of our assets.
Economic Outlook for the Region
the extensive reforms taking place in Spain and Portugal will dominate the macroeconomics for 2013 and 2014, but the second half of the decade may start to bear fruit if productivity is boosted and the considerable output potential of these economies can be unlocked.
retailers have been directly affected by the contraction in consumer spending in the region. rents are set to fall again next year before finding a floor in 2014 as economic conditions gradually start to stabilise. International retailers continue to show interest, but only for the very best commercial spaces.
Investors will remain cautious towards the region until the outlook for the eurozone improves. When they return to the market, it is likely that investors will be selective, initially focusing only on prime assets in the major cities.
We believe that the online market will provide an impetus to important innovation in the sector.
Projects
Lisbon, Portugal – Rua do Carmo, city centre redevelopment
redevco Spain & Portugal recently finalised a project begun at the end of 2011 to redevelop a building on Lisbon’s rua do Carmo in the Baixa district, the city centre, one of Lisbon’s best commercial. this prime high street building comprises 5 floors, with a total of 1,053 sq.m., of which 626 sq.m. are being leased as commercial.
Gijón, Spain – C.C. Los Fresnos, shopping centre redevelopment
redevco Spain & Portugal has just started redeveloping the upper floors of the Los Fresnos Shopping Centre, in gijón. this project involves 6, 000 sq.m. of retail space, and aims to increase the retail offer of this urban shopping centre. the redevelopment will be completed in the course of 2013.
Transactions
during 2013, we will continue to monitor the retail real estate market to identify good investment opportunities that match our investment criteria, as we did recently with:
Prime high street investment, Madrid, Spain – Calle de Goya, 47
during 2010 we acquired a 2,300 sq.m. high street unit on Calle de goya, one of Madrid’s principal commercial streets. goya, 47 is let to Zara, part of the Spanish Inditex group.
Prime high street investment, San Sebastian, Spain – Av. Libertad, 19-21
In 2011 redevco Spain acquired almost 2,500 sq.m., divided into nine retail units on one of the main commercial streets of San Sebastian, in northern Spain. these nine units are leased to well-known retailers including Massimo dutti, Pimkie, rip Curl and Lottusse.
Palma de Mallorca, Spain
RedevCO SPAIN & PORTUGAL FIGUReS:Portfolio value:
Number of square metres:
€ 630 million
> 600,000
Madrid, Spain
our core business is to understand
retailers’ demands and respond to their
changing needs.“ “
In all our activities we aim to enhance the company’s competitiveness while simultaneously advancing economic and social conditions in the
communities we operate in.“
“
For redevco, the investment market in this region is going through a very interesting phase. this requires us to be in tune with market and technological developments and how they will influence the retail market and consumer behaviour.
Strategy
redevco is a long-term investor with a clear focus on prime retail properties located in the historic centres of the Europe’s main cities. given this investment criterion the current market in Spain and Portugal is highly attractive for us, and we expect to find good investment opportunities in the retail real estate market there.
redevco’s strategy across Europe is to further enhance the profile of its real estate portfolio. therefore, as in the past few years, we will continue to divest properties that no longer play a strategic role in our portfolio. We will also continue our policy of redeveloping the existing portfolio and of creating added value.
Màlaga, SpainVigo, Spain Palma de Mallorca, Spain