VIA Outlets has completed the purchase of Sevilla The Style OutletsDownload press release
VIA Outlets announces that it has completed the purchase of “Sevilla The Style Outlets” near Seville from IRUS European Retail Property fund.
The outlet centre is located north east of Seville and attracts a growing number of tourists visiting the Andalucía region. The property comprises 16,400 sq.m. of retail space and has 65 units with brands including Bimba y Lola, Hugo Boss, Lacoste, Polo Ralph Lauren and Tommy Hilfiger. The centre has a sales density of €3,600/ sq.m. and welcomes more than 2 million visitors per year.
VIA Outlets is a joint venture formed by UK REIT Hammerson plc, Dutch pension fund asset manager APG, European retail estate investment manager Meyer Bergman and outlet centre specialist Value Retail.
The four partners established VIA Outlets to take advantage of strong growth in the European outlet sector. Since 2014 the joint venture has acquired Batavia Stad Amsterdam Fashion Outlet (The Netherlands), Fashion Arena Prague Outlet (Czech Republic), Hede Gothenburg Fashion Outlet (Sweden), Freeport Lisbon Fashion Outlet (Portugal), Landquart Fashion Outlet (Switzerland) and Festival Park Outlets (Spain).
This latest acquisition adds scale and quality to VIA Outlets pan-European portfolio, which now comprises seven centres in six European countries with a total GLA of about 152,000 sq.m. and some 670 stores under management.
The new owner of Sevilla The Style Outlets is strongly committed to working in close cooperation with its tenants, the municipality of Seville and other key stakeholders to ensure the development, improvement and growth of the centre over the coming years.
VIA Outlets is currently reviewing plans to upgrade the outlet centre – such as introducing more premium brands and improving visitors’ experience – and is exploring fresh initiatives to attract more international visitors. This will result in a complete re-branding of the centre, including a new name, within the next few months.
VIA Outlets has retained the current team for the day-to-day management of the centre.