The acquisition by Frey of all shares in the company that owns Finestrelles, Barcelona’s newest urban open-air shopping centre, was announced on Wednesday 22 June 2022.
This sale confirms the attraction of this shopping centre developed by Equilis. It represents a unique opportunity for the new owner to invest in this modern centre in order to continue the value creation work already done and fully meet today’s consumers’ multi-channel shopping needs.
Victor Gomez, CEO of Equilis Spain: “The Finestrelles shopping centre, managed by Cushman & Wakefield, is located in Esplugues de Llobregat (Barcelona). It opened in November 2018 and was Equilis’ first project in Spain. A footfall of more than 6 million visitors in its first year in operation immediately demonstrated its anchorage in its catchment area.
It has a total built area of 99,630 m² and a total GLA of 39,250 m². It includes more than 100 stores selling a broad range of fashion and accessories, decoration, sportswear, electronics, telephony (Decathlon, Zara, Bershka, Media Markt…). It also has an AliExpress Plaza shop, the first in Catalonia, an Alcampo hypermarket of over 4,200m² and a VivaGym gym. The top floor, with over 2,200 m², houses 7 restaurants with a food offer to suit all tastes: Udón, Casa Carmen and La Tagliatella, among others. It is a top attraction for young people and families in Barcelona and Baix Llobregat.“
After the opening of Docks Bruxsel in 2016 in Brussels, Equilis developed the Finestrelles Shopping Centre in Barcelona. Breeam “Excellent” certification was obtained for the Docks Bruxsel shopping district (Belgium), and subsequently for the Finestrelles shopping centre, which opened in 2018. Galeria Chelm (Poland) has also achieved Breeam ‘Very Good’ certification, positioning all Equilis shopping centres as pioneers in this field in their national markets.
Carl Mestdagh, Executive Chairman of Equilis Europe, said: ” Equilis is delighted with this transaction, which fits into the company’s development strategy in Europe. As a real estate developer, it has always been Equilis’ intention to add value to the Finestrelles shopping centre, which is why we are pleased to sell the centre to an investor with a long-term vision for this iconic project.
Key figures
- Total GLA: 39,250 m²
- Breeam “Excellent” certification (design, execution, use)
- Shopping and leisure facilities + student residence on the site
- Approximately 1,300 staff
- Located in the privileged location of Esplugues de Llobregat in Barcelona province
- Two-storey car park with capacity for 1,250 vehicles
- Asset management Cushman & Wakefield
- Created, developed and sold by Equilis, the European real estate developer.
- Bought by Frey in June 2022
- Average number of visitors/year: 7,000,000
- www.finestrelles.com
During this transaction EQUILIS was advised by Cushman & Wakefield and RPE.