Sephora rents 400 sqm of retail space on Avenida Diagonal Barcelona

Sephora rents 400 sqm of retail space on Avenida Diagonal Barcelona
D471 mixed-use project in Barcelona

The French cosmetics and perfumery retailer has signed a pre-agreement to rent 400 square metres in the building of the former El Corte Inglés de Francesc Macià on Avenida Diagonal, according to Idealista.
The company, which has more than 120 shops in Spain, joins the D471 project, which aims to transform the building into an office complex with commercial ground floors. A total of 6,000 square metres will be dedicated to retail, of which some 3,200 square metres will belong to the El Corte Inglés supermarket.
In January 2021, the Spanish department store group closed its centre at 471 Avinguda Diagonal in Barcelona. Work on the new building project began in late summer last year and the building's developer, Mersan Assets Managements, expects to have it ready before the end of the first half of 2024. Construction is expected to cost 25 million euros.
Sephora, which entered Spain in 1998, will occupy 400 square metres of the forthcoming office and retail complex on Barcelona's Diagonal. Sephora was founded in 1969 in France and was acquired by conglomerate LVMH in 1997. It is present in 35 countries with around 2,600 shops and is one of the world's largest selective perfumery groups.

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