Puerto Venecia secures full suite of Inditex brands

Eurofund Investments Zaragoza SL, a joint venture between British Land and Orion European Real Estate Fund III C.V., to announce that all of the Inditex Group’s brands have signed for more than 70,000 sq ft (6,500 sq m) of space within the 1.37 million sq ft (127,276 sq m) second phase of Europe’s largest retail and leisure destination; Puerto Venecia in Zaragoza, Spain.

The total amount of space let or under offer at Puerto Venecia’s second phase, which is scheduled to open in autumn 2012, has now reached 75% by floor area.

Leading Spanish department store El Corte Inglés and Primark have committed to anchor the fashion mall with 419,796 sq ft (39,000 sq m) and 70,332 sq ft (6,534 sq m) stores respectively. Other pre-lets include Desigual 13,778 sq ft (1,280 sq m), H&M 21,022 sq ft (1,953 sq m), and Mango 4,800 sq ft (446 sq m).

The leisure area will comprise restaurants, cafes and bars centred around a 107,640 sq ft (10,000 sq m) canal and lake creating a unique environment. The leisure element will also feature a 46,285 sq ft (4,300 sq m) Cinesa cinema, family entertainment centre, games and a host of top leisure attractions.

Puerto Venecia has a catchment of 2.2 million people within a two hour radius and annual sales of 350 million euros are expected. The scheme comprises a retail park, fashion mall, leisure area, adventure and sports area, 107,640 sq ft (10,000 sq m) lake, canal and parkland including 10 km of paths for walking and cycling.

Construction of the second fashion and leisure phase follows the successful completion of the 890,000 sq ft retail park which opened in 2008. The retail park, which attracts more than 6 million visitors a year, is anchored by Ikea and features all leading Spanish operators including Conforama, Leroy Merlin, Media Markt and Porcelanosa. The adventure area will feature a range of sports and leisure activities including rowing boats and a zip line next to a 65,000 sq ft (6,038 sq m) Decathlon store where customers can test products before they buy.