Lar España inaugurates shopping centre Lagoh with a €200M investment

Lar España inaugurates shopping centre Lagoh with a €200M investment

The shopping centre has a total 123.500 sqm, 100.000 sqm of which will host its more than 200 commercial spaces, kiosks and terraces. It also offers an extensive leisure offer, from which a wind tunnel, multi-adventure areas and wave pools for surfing, stand out. Its main feature is a 6.000 sqm central lake which names the complex.

Lagoh opens at full capacity, which represents 17 million euro in net annual rents, 13.5% more than initially expected. Furthermore, since the construction works started 26 months ago, the total increase in terms of the asset’s valuation was 446% and it will open with an approximate yield on cost profitability of 8.5%.

These numbers make it clear that Lagoh is the largest project in Spain and one of the largest in Europe in 2019. The president of Lar España, José Luis del Valle, commented that «the opening of Lagoh shows that, five years after it started being listed in the Stock Exchange, the company keeps generating opportunities with high added value and larger returns, despite the real estate cycle being at a more advanced stage».

Due to its reach, this project will be reinforced by several housing projects within its environs, with a total of 3.000 dwellings. To ensure a good communication with its surroundings, Lar España invested 9.4 million euro.

With this complex, Lar España also invested in a sustainable building, certified by the «Breeam» method, a system for assessing and certifying buildings’ sustainability. It will also use 100% renewable energy.

Iberian Property logoIberinmo logo
Iberian Property is the best platform for investment in Spain & Portugal. Created for those who seek reliable information about players and deals happening in Iberia. Through updated database, reports, market indicators and daily news, we report “Who’s Who” in Iberian Real Estate!. Iberian Property is also proud to organize the most important international real estate investors’ meeting in Iberia - Portugal Real Estate Summit!