Cushman & Wakefield to lease Metro Retail Park near Oporto, Portugal

7 Jul, 2008, Lisbon

Global real estate consultant Cushman & Wakefield (C&W) recently announced that it had been appointed exclusive letting agent of Metro Retail Park, a new retail project bySpanish property developer Red Group, which has been present on the Portuguese market for almost 10 years. The project will be entirely financed by Banco Santander.

Metro Retail Park will have a gross leasable area (GLA) of 5,996 m2, with a total of 6 retail units. The car park will hold 425 vehicles, 292 in covered parking and 133 outdoors.

The new retail park is located in the Maia industrial area, close to the main motorways and will be easily visible and accessible from the IC24 road which links Matosinhos to Maia. The Oporto Metropolitan Railway Network will also provide direct access from the Maia Industrial Estate station. Metro Retail Park is expected to open in the first quarter of 2009.

Metro Retail Park will serve a population of more than 150,000 people living within a 30-minute radius. Maia is a dynamic district, where the population is currently increasing at a great rate, and is home to several leisure, sports and healthcare facilities.

According to João Pereira of Cushman & Wakefield’s retail department, “it gives us great pleasure to be working with the Red Group in the letting of its new project in Portugal. We have every reason to believe that the entire retail park will be occupied very quickly”.

In 2007, the retail department was responsible for the letting of 50,000 m2 of new retail areas, and completed the marketing of projects such as Sonae Sierra’s 8ª Avenida and Martifer’s Gran Plaza in Oporto. It is currently marketing projects like Loures Retail Park or Dolce Vita Braga and collaborating actively in the expansion of retailers such as Claire’s, Game, Aldo, Virgin Active and others.

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