Estabona is a co-investor with the UK investment fund, Benson Elliot.
Responsible for management of the asset, it has executed a business plan that has significantly improved the value of the asset, creating a centre of mid-sized stores with leisure and food outlets in the province of Albacete.
Currently, the centre has an occupancy rate of over 96% and the footfall has grown 33% in the last 3 years.
The initial situation:
A single-storey leisure and retail centre with a GLA of 45,000 m² distributed over 78 units and 2,100 car parking spaces.
Anchors: Alcampo, MediaMarkt, Sprinter, Toys R Us, Yelmo Cines. There is a Leroy Merlin store close to the centre.
There were a large number of empty outlets and an excessive number of small premises for the existing demand. Footfall, sales and occupancy were in decline.