Flagship store in Madrid leased to Inditex

Flagship store in Madrid leased to Inditex

Preciados street, Madrid

The real estate consultancy has participated in the leasing operation to Inditex of the 2,700 sqm space in the Preciados 13 building (Madrid).

David Barragán, national director of Retail High Street in Savills Aguirre Newman, points out that «with the signing of this operation the strength of the prime axes is reaffirmed, which continue to maintain the interest of the main operators to position themselves in strategic locations in commercial areas».

After the purchase by Hines of the buildings and an investment of 12 million euros in their rehabilitation, the fund manager has managed to position the asset in the hotel and commercial sector. In addition to Bershka, the buildings will be occupied by the Chic & Basic boutique hotel with 51 rooms and an opening scheduled for the second half of the year, an operation also advised by Savills Aguirre Newman.

Calle Preciados is one of the busiest streets in Madrid with a greater representation of brands, who have chosen the area to settle. Among the latest openings, the one at Hard Rock stands out, last September, Levi's, which opened its store on this road in July 2020, as well as the flagships already opened during 2019 and 2018 of Pikolinos, Zara, Primor, Mango and Pull & Bear.

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