Alegro Castelo Branco has opened to the public The new Alegro shopping centre developed by Immochan has opened to the public. The second such shopping centre in Portugal was officially opened on 3 December. The retail scheme results from an expansion of the Jumbo hypermarket in Castelo Branco, which had been in operation since 1991. Alegro Castelo Branco involved an investment of 40 million euros. The shopping is being marketed by Jones Lang LaSalle and its occupancy rate was at 91% by the time it opened to the public. The scheme has a Gross Lettable Area (GLA) of 19,000 m². Its anchor shops include the preexisting Jumbo hypermarket, as well a a Box outlet also from the Immochan group that will take up 12,171 m². There is also a shopping mall with 7,300 m² of GLA over 56 shops, of which seven are restaurants and cafeterias. The Alegro Castelo Branco will also feature a Page One clothing shop, a toys shop of the Brinca chain, a Catherine Lansfield textiles and equipment outlet and a bowling alley of the Crazy Bowling brand with 905 m². Other outlets include Mr Mint, a 112 PC, Vodafone, Goya (a local retailer), Mac Vest and Egoísta. One of the competitive advantages of the new retail scheme is its ease of access, as it is located between the A23 and IP2 motorways. The scheme features a car park for 1,250 vehicles, of which 600 in covered areas. The company’s next project will be in the town of Maia and will involve an investment of 35 million euros. The Immochan group currently has a portfolio of 85 million euros. According to Mário Costa, Immochan’s director-general, funding has not been a major problem for the group so far and there are plans to continue investing in Portugal. It should be noted that the group owns all the assets included in its portfolio. Immochan’s investment plans for the country mean that the group «may buy new shopping centres, whether fully licensed or seeking the necessary licences that their respective developers are unable to finance», said Mário Costa, adding that the group will look for good market opportunities, because «the current crisis is creating growth opportunities for those that are able to do so». Despite the crisis, Immochan has no plans to review its investment strategy. «Of the 260 million euros available, a significant port [185 million euros] has not been ear-marked for anything specific.
PORTUGUESE NEWS DECEMBER 2008
PÁG. 4
Events 4 February 2009 13TH ULI EUROPE ANNUAL CONFERENCE Venue: The Westin, Paris, France Info: www.uli.org 10 – 13 March 2009 MIPIM – THE WORLD PROPERTY MARKET Venue: Palais des Festivals. Cannes, France Info: www.mipim.com 21 - 29 March 2009 INHOUSE Venue: Exponor. Matosinhos, Portugal Info: www.exponor.pt 26 - 29 de Março de 2009 IMOBITUR Venue: Exponor. Matosinhos, Portugal Info: www.imobitur.eu
This give us a lot of leeway to seek and make the most of emerging market opportunities», explained Mário Costa at a meeting with the press. In the wake of the opening of first shopping centre of the Auchan group in Portugal - Alegro Alfragide – the company has announced that it had 260 million euros to invest in Portugal until 2010.
KEY FACTS AND FIGURES: Name: Alegro Castelo Branco Developer: Immochan Investment: 40 million euros GLA: 19,500 m² Location: Castelo Branco
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