Espacio Torrelodones, the first shopping and entertainment centre for the Torrelodones area
Today, Espacio Torrelodones in Madrid opens its doors offering 32,000 m² of shops, restaurants and leisure facilities that will bring a new shopping-experience to the North West part of Madrid. Espacio Torrelodones is owned by WestInvest and was developed by Multi Development Spain in cooperation with Eroski.
The project
This most singular entertainment and shopping complex is located in the North-West area of Madrid, next to the Torrelodones Casino and facing onto the A-6 Coruña motorway. Espacio Torrelodones will take its position as a landmark centre in the Northern area of Madrid. High-quality retailers complement what is presently on offer, in order to satisfy the needs of potential customers who, at present, need to travel into the centre of Madrid to do their shopping. Visitors to Espacio Torrelodones will have at their service a unique centre, quite distinct from other centres in the area, thanks to the quality of the shopping and leisure options and its exclusive spatial distribution.
Espacio Torrelodones is anchored by an Eroski Hypermarket. The centre opens with all of its 92 units fully let, including national and international brands such as Decimas, Sfera, New Yorker, Zara, H&M, Maximo Dutti, Pull & Bear, Promod, Miss Etam, Mango, Benetton, Jack & Jones, Berska, Poly, Blanco and Prenatal. Espacio Torrelodones includes a food court with 11 food outlets on 2,000 m² and 1,500 underground parking spaces on 2 levels.
T+T Design, Multi’s in-house designers, were responsible for the master plan; the architectural design was worked out in cooperation with Broadway Malyan architects. The result is an innovative and harmonious retail space in accordance with the new residential area designs. Espacio Torrelodones represents a city centre for the new urbanization, a new town. A public square allows visitors to move easily between the different parts of the centre. The centre point of this public space is a monumental brick building that creates different spaces such as a patio and a big atrium. The architecture is a reminiscent of the traditional “paradores”, very common in Castilla Leon. A 35-meter high tower that can be visited forms the main access to the shopping centre.
The food court on the upper floor has terraces with splendid views over Madrid and the mountains. Local and natural materials such as granite, wood and glass are used. The colour scheme is warm and inviting.
Multi Mall Management Spain SA will be responsible for the shopping centre management of Espacio Torrelodones.
Modernizing local business and growing economic development
The investment value of Espacio Torrelodones is approximately Euro 101 million.
Profile Multi Development
Multi Development Spain SA is part of Multi Corporation, a group of companies carrying out various disciplines throughout Europe in property development (Multi Development), investment (Multi Investment), asset management (Multi Asset Management) and mall management (Multi Mall Management). With a Morgan Stanley Real Estate Fund as its new financial partner, MultiULTI has strengthened its position to become an investing developer and move forward on its path to further growth. MultiULTI’s strategy is and remains focused on developing projects in European countries where significant growth is expected. Across Europe, MultiULTI’s inner-city projects, shopping centres and business parks appeal to peoples’ imagination. The ‘Design & Development’ formula strongly focuses on design quality and MultiULTI has its own design group- T+T Design - for urban development and architectural concepts. MultiULTI’s projects are internationally recognized for their original and innovative nature, quality of architectural character and profound sensitivity to the blending of urban design. Our developments regularly act as the engine for regenerating a city or region. By respecting local culture and style we develop projects with which people can easily identify. Multi Development’s activities in 18 countries in Europe are conducted from offices in The Netherlands (head-office), Belgium, Luxemburg, United Kingdom, France, Germany, Czech Republic, Poland, Spain, Portugal, Italy, Greece, and Turkey.
Multi Development Spain has established its prominent position in Spain with award winning shopping malls in León and Gerona. It has projects under construction such as Espacio Mediterráneo in Cartagena (Murcia), Espacio A Coruña in A Coruña (Galicia) and Espacio Buenavista in Oviedo (Asturias).
Profile WestInvest
WestInvest Gesellschaft für Investmentfonds mbH, Düsseldorf, is an investment company managing real-estate investment funds and special funds for institutional investors. The company has assets of app. Euro 5,3 billion under management. It is part of the organisation of German Savings Banks (Sparkassen) and a subsidiary of DekaBank, Frankfurt.
WestInvest invests in commercially used properties, focussing on markets characterised by a high potential for yield and appreciation. Investments are made preferably in properties in the urban centres and regional town centres of Germany and Western Europe. Furthermore, for the purpose of minimising risks, great emphasis is placed on achieving a good spread of risk by choosing different locations, use structures, mixtures of tenants, and different types of lease-agreements and age structures of the buildings.
Profile Eroski
Our main activity is the distribution of products and services to consumers. We follow a strategy of intensive expansion and diversification. Investments in this area are geared towards developing new shopping centres, hypermarkets, supermarkets and self-service stores, addressing the needs of all our customers with our multiformat network. Our mission is to address the present and emerging needs of families. We know that consumer habits and lifestyles change, so over the last few years we have developed complementary activities to food retailing, including travel agencies, sport and leisure shops, perfumeries, petrol stations, opticians, space solutions (sale of real estate, insurance and financial products, sending remittances), supermarket and travel sales on the Internet, and culture and leisure stores. We are involved in the design, construction and promotion of commercial parks and shopping centres.
This year we have opened five: Plaza Éboli in Pinto (Madrid), Ribera del Xúquer in Carcaixent (Valencia), As Termas in Lugo, Almazara Plaza in Utrera (Seville) and Parque Miramar in Mijas (Malaga), where we also inaugurated a Forum Sport shop.We achieved consolidated results of 143.4 million euros. This represents an increase of 10.4% on the previous year, confirming the recent sustained positive trend. These profits were achieved in very unfavourable market conditions thanks to reductions in operating costs and savings in the supply chain.Sales came to 6,005.7 million euros, showing an increase of 7.6% on the previous year. A major part of this progression can be attributed to our growth policy, with 140 openings. Cash flow came to 345 million euros, even higher than the total investments made during the financial year, which came to 298 million.There are now 30,716 people working at EROSKI. There are now 515,226 consumer members and friends of the EROSKI FOUNDATION, 21,240 more than last year.