MAPIC 2013: Spain is bouncing back as it is sees a huge increase in foreign investments in the shopping centre sector.
The tipping point, said John Strachan, Cushman & Wakefield’s global head of retail was intu and Canada Pension Plan Investment Board’s deal to buy Principado Shopping Centre in Oviedo, Northern Spain on 7 October.
Intu and CPPIB paid E172m for the 800,000 sq ft scheme.
Stuart Rough, chairman of international architects BroadwayMalyan said that over the past two weeks more investment had been made. “It’s like the switch [in Spain] has been put back on. Huge external foreign investment has been driven by bargain prices.”
Listen to Stuart Rough’s podcast below or download MAPIC 2013 new investment in Spain from the Estates Gazette iTunes channel
