In its report on the Medium-Surfaces Market in Spain, it shows that this segment continues to create interest among investors, which is reflected both in number of operations and in investment volume. Savills Aguirre Newman expects to develop 10 new commercial parks, in a total of more than 250,000 m2, and already identifies operations worth more than €300 million that may close later this year.
As the Spanish Real Estate advances, the medium-sized hybrid models of leisure and food are the most demanded, mainly in urban areas. Spain has a stock of medium-sized parks of more than 2,400 m2, distributed by 94 assets, a segment that represents 15% of the country's total retail area.
In these assets, the average income is €12 / m2 / month, which compares with €18 for "super prime", above the European average of €16.4. The sector continues to grow due to the duration of contracts, the stability of returns and the emergence of market niches with more potential for development. "Although yields for commercial parks have been dropping in recent years, it is the only type of retail where we still see some room for compression," explains Salvador González, national director of capital markets at Savills Aguirre Newman.