CG malls europe - Commerz Real

According to the GfK (November 2007), almost 280,000 people live in the catchment
area of Espacio León, while more than 100,000 live in its direct vicinity. The mall offers
an attractive and complete mix of store types, restaurants and bars, recreational facilities
and a multiplex cinema. Due to the rural environment and the lack of attractive
shopping alternatives, the Espacio León has a major potential for drawing most of the
purchasing power in the catchment area. Thus, the success of Espacio León is unlikely to
be qualified by the fact that the purchasing power index for the catchment area exceeds
the national average only slightly at 100.2, especially as the index for customers in direct
vicinity of the mall is 106.6. Furthermore, it is to be expected that the population in the
direct vicinity of the mall could grow in the coming years because further new residential
developments in the surrounding district are planned. In 2009, the fifth year of
operation, the mall registered a footfall of 4.7 million.
Espacio Leôn Catchment Area
León
Source: www.viamichelin.de
Astorga
La Bañeza
Espacio León
León
La Robla
Villamañán
Villarente
Primary catchment
Secondary catchment
Cisterna
Almanza
In 2009, sales amounted to EUR 79.5 million, which translates into a turnover of
EUR 2,600 per sqm. Espacio León generated a rental income of EUR 7.6 million in 2009
(including base rent, turnover rent and temporary letting income). The rental income
includes a rental guarantee for vacant areas by the developer that will extend through
2012. The effort index (rent / sales ratio) of 11% was very attractive for the tenants in
2009.
Apart from several hypermarkets and the smaller León Plaza (18,500 sqm) that is positioned
closer to the city of León, Espacio León remains unrivalled in the region to date.
The closest shopping centres with a similar offering and size are located in Ponferrada,
approx. 100 km away from León, in Oviedo more than 130 km away, and in Lugo more
than 220 km away. So the centre must position itself vis-à-vis traditional shopping
Property Report
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