Carmila buys La Veronica in Antequera for €16.1M (7.3% NIY)

Carmila (CARM:EN), the third largest listed owner of commercial property in continental Europe, has purchased the retail gallery of La Veronica shopping center in Antequera from Grupo Eroski. The property is located in the province of Malaga for €16.1 million which reportedly represents a 7.3% net initial yield.

Opened in 2004, the 21,433m² shopping centre is distributed across 2 floors and is anchored by an 8,425m² Carrefour hypermarket and the retail gallery includes tenants like Lefties, Kiddy’s Class, Bershka, Tino Gonzalez, Pull and Bear, OVS Kids, Stradivarius and Springfield amongst others. It also has an 8-screen cinema on the top floor which anchors a food court area with operators such as 100 Montaditos, La Quimera, Mint Coffee and Piadine.

Carmila was founded by Carrefour and large institutional investors in order to increase the value of Carrefour anchored shopping centres in France, Spain and Italy. Its portfolio comprises 214 shopping centres and retail parks, mostly leaders in their catchment area, which benefit from the Carrefour brand and a regular, loyal customer base.

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