| Role: | Owner / developer |
| Status: | Fully operating asset |
| Uses: | Retail and Markets; events; public realm |
Finished in December 2018, the stunning transformation of the scheme saw some very exciting store openings in the modern and attractive centre, including a trailblazing IKEA concept store. Here customers could create custom designed rooms alongside IKEA interiors and design experts. The experts even offered a home-visit service to truly understand the needs and individualities of a customer’s home, followed by purchase support, including collection, transport and assembly services.
Zubiarte’s makeover included an enhanced F&B offering with two exciting new restaurant openings, Dinamico & Santo and Bizkarra & Co. Ideally suited to Zubiarte’s cosmopolitan and chic atmosphere, the two new restaurants are open for business, offering visitors fresh culinary options while they shop.
Results:
- Occupancy over 99% on GLA
- Despite Covid-19 the centre maintained full occupancy, and before restrictions, was reporting a +40% uplift in footfall and had tripled its net operating profit.
- Achieved x3 NOI
- As of December 2020, the Milligan Spain team completed its five-year period of asset management.
