43% of all retail operations were concentrated on high street operations and represented 22% of investment. Nevertheless, shopping centres, which saw a decrease in the number of operations when compared to previous quarters, generated a 58% volume of investment up until this quarter.
During the third quarter, the prime revenue of retail assets in Spain was in line with that of the main European cities, with similar numbers and, in the case of shopping centres, above the prime revenues of those cities.
Leisure keeps attracting the interest of investors as shown by the purchase of cinema multiplex Cinesa Méndez Álvaro, with 16 projection rooms, by an investment fund, or the purchase of the luxury cinema rooms of the Palafox cinema, both in Madrid. Regardless, the most important transaction of the quarter was the sale of the Corte Inglés Francesc Macià in Barcelona by more than 150 million euro to family office AM Gestió. El Corte Inglés will remain as the tenant until December 2020.
«The good health of the retail segment within the Spanish market, even surpassing the other European markets, the dynamic of certain leisure formats, the super prime locations and the flagships are proof of these results», highlighted the director of retail capital markets and flagships at Knight Frank, Elaine Beachill.
