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Espacio Coruna

Henderson Global Investors appointed to manage Espacio Coruña shopping centre in Spain

Henderson Global Investors has been appointed to manage the Espacio Coruña shopping centre in Spain.

Henderson Global Investors has been appointed to manage the Espacio Coruña shopping centre in Spain.

As asset manager, Henderson Global Investors will define the strategy for the property in order to reposition it within the complex market of A Coruña. This will involve deployment of a new business plan comprising an investment programme, tenant mix and marketing strategy.

Henderson has selected Sociedad de Centros Comerciales Españoles (SCCE) to handle lettings and real estate management on its behalf. SCCE has already established a successful and proven relationship with Henderson, having acted across a number of assets in its Spanish portfolio.

Henderson’s Spanish real estate division now comprises five shopping centres, two retail parks and one logistics asset.

Manuel Martín, Head of Property, Spain, said: “We are delighted to have been awarded this mandate which is testament to our expertise in the sector and our experience in managing an array of retail assets across Spain. We look forward to leveraging off this experience in order to deliver value at Espacio Coruña.

"The Spanish market offers excellent opportunities to reposition shopping centres which, following the recession cycle, require a refreshed strategy in order to future proof their viability and optimise their value.”

Located in the capital city of Galicia, Espacio Coruña has a total GLA of nearly 40,000 m2. The retail offer includes a 2,280 m2 Mercadona supermarket and an H&M fashion and accessories store of a similar size. Zara, Bershka, New Yorker and Cortefiel are other notable fashion firms. The retail offer is complemented by an extensive leisure area, including an 8-screen cinema complex with 1,300 seats and a food court.

Having specialised in retail property for over 30 years, Henderson has a strong reputation for its retail expertise. It has been involved in some of the best-known and largest retail schemes across the UK and Europe. Many of these schemes have been ground breaking in terms of scale, design and innovation. Of its c.£12.7 billion AUM in property, c.£7.4 billion, c.60%, sits within the retail sector. This includes over 170 retail assets across Austria, Belgium, China, France, Germany, Greece, Italy, Netherlands, Spain, Sweden & the UK.

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