Spain’s first purpose-built outlet mall at Las Rozas to the west of Madrid attracted more than 100,000 visitors in its first two months in operation, and now another operator plans to build a similar scheme on the site next door.
The 10,000 m2 mall, called ‘Factory’ was developed by Neinver and the French developer Concept & Distribution. Manufacturers and retailers including Naf Naf, Levis, Lee, Nike and Samsonite have taken space at rents thought to be in the region of Pts1,850 per m2 per month.
Now Value Retail, a consortium of Malkin Properties, Chelsea Royalty, Argent Estates and London & Metropolitan, has bought the adjoining site at auction from Arpegio. It plans a similar outlet mall which will open in 1999. Value Retail already has an outlet mall under construction at La Roca del Vallés, Barcelona which will open in spring 1998 with 57 units totalling 10,000 m2, and plans for another mall in Palma de Mallorca.
Meanwhile the joint venture behind Factory has unveiled plans for its second outlet mall in Madrid, 20 km south of the city centre, to be followed by further projects in Barcelona and Lisbon.
A third operator is also looking to break into the Spanish market. Anglo-American joint venture BAA McArthur Glen, which already operates outlet malls in the UK and France, has retained Jones Lang Wootton to identify suitable sites in Spain.
