• Capital Markets - (SPAIN)

      Humphrey WHITE

      Socio, Director General T: +34 915 959 053 M: +34 600 919 012

 

 

 

    • Capital Markets - (SPAIN)

      Elaine BEACHILL

      Associate, Director of Retail Capital Markets and Flagships T: +34 915 959 056 M: +34 600 919 016











High Yielding Opportunity PARQUE CEUTA

The Spanish Autonomous City of Ceuta is located to the east of the Strait of Gibraltar, approximately 20 km from the Iberian Peninsula, sharing a western border with Morocco.

Ceuta is one of two major Spanish sea ports on the northern coast of Africa.  The city has a unique cosmopolitan nature and is an important administrative centre and military base.

The average annual net income per household and the GDP per capita of Ceuta are both in line with Spanish national averages.

Ceuta has a registered population of 84,000 inhabitants, forming a captive catchment area for the Parque Ceuta shopping centre. There are an estimated 143,300 people living within a 15 minute drive from the scheme and the centre receives an average of circa 2,700,000 visitors per year.

The annual net rental income for 2013 is circa € 2,197,400.

  • High yielding asset with stable, consolidated cash flow.
  • Strong performing centre with excellent track record. Currently 98% let with average effort ratios of below 7%.
  • Excellent location within a consolidated residential area with high population density, close to the city centre and port area where most retail operators are concentrated.
  • Dominant scheme. Parque Ceuta is the only shopping centre and only hypermarket in Ceuta.

 

To see spanish version click here.

  • Excellent tenant mix, offering secure income and balanced lease expiry.
  • Leading national and international retail operators including Eroski, Inditex Group, Cortefiel Group, C&A, Burger King.
  • Potential opportunity to extend GLA.
  • Offers in excess of €19,500,000 equating to a Net Initial Yield of 11.27%.