Retail investment in Spain to reach €2b, exceeding 2019 volumes
Retail investment volumes for 2020 are expected to exceed those of 2019, despite COVID-19, a new report from Savills Aguirre Newman suggests.
According to data from the international real estate advisor, 2020 retail investment volumes are expected to reach between €1.5 billion and €2 billion ($1.8 billion and $2.3 billion) across traditional products (excluding high street). This is largely due to the sale of Intu shopping centers and large supermarket portfolios, which alone could reach €700 million ($820 million) by the end of the year.
The report shows there has been increased appetite amongst investors for assets with long-term contracts based on convenience and, as such, supermarket portfolios and medium-sized urban parks have been popular. At present, with supermarket operations in the market estimated to be €500 million ($586 million), added to the €190 million ($223 million) transacted already, 2020 is on track to be a record year, with supermarket-ba