Edinburgh-based Miller Developments has teamed up with Portuguese shopping centre specialist Sonae Sierra to develop a major new shopping park in Granada, Spain.
The jv, the first for Miller and Sonae in the country, will develop a 301,389 sq ft (28,000 sq m), two-level shopping centre and 182,986 sq ft (17,000 sq m) on 27 acres of a 35-acre site in the Las Pulianas area of the Spanish city.
The jv has sold the remaining land to the Iberian arm of flatpack giant Ikea for a 28,000 sq m store.
The shopping park, in which the pair have invested a total of €107m (£71.8m), is scheduled to open in 2009.
Miller and Sonae – which is 50% owned by the Duke of Westminster’s Grosvenor – have already teamed up to develop three major retail parks in Portugal – in Sintra, Coimbra and Viana do Castelo.
Miller chief executive Phil MIller said: “Europe is a projection market for Miller Developments, and this project has a great significance for us.”
