Reinventing retail spaces and creating value through expansions

Key Highlights

• Expansions are crucial for adding value to a property, in an evolving retail universe of changing tastes, experiential challenges, and crowded catchment areas.
• These projects are especially effective when executed with minimal impact on current operations during works, and can have a transformative effect on footfall, rents and sales afterwards.
• Sonae Sierra is an expert at executing market-leading expansions, deploying professional services that cover a centre’s complete lifecycle to deliver stand-out, commercially viable solutions.
• RioSul Shopping and LeiriaShopping evolved from overperforming hypermarkets to vibrant shopping centres, while Plaza Mayor added a shopping centre to the leisure centre built previously.

Solution

• Every centre transformation starts with an analysis of the asset’s strengths and weaknesses, plus an examination of the catchment’s potential, balanced with the risks of competition.
• An action plan is devised to expand the centre, depending on degrees of wear and tear, customer expectations, catchment potential and leasing opportunities.
• Transformational strategies for the full lifecycle of the asset are applied to enable our clients to seize the opportunities of a stronger real estate asset in the long term.

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