Pan-European investor-developer agrees its first acquisition in Italy to relaunch a retail asset of circa 40,000sq m with €25M of redevelopment and repositioning works planned.
Following the company’s active expansion spanning the UK, Portugal and Spain, Eurofund Group’s first Italian project will replicate the company’s proven track record in the creation of Retail & Leisure “destinations” that combine retail, entertainment, leisure, Food & Beverage, together with outdoor sports activities. Examples include Puerto Venecia in, Zaragoza, UBBO in Lisbon and Silverburn in Glasgow.
Eurofund Group’s vision will complement the project’s existing retail offer by implementing a transformation strategy that will reposition the centre as one of the region’s leading Retail & Leisure experiential shopping environments. To achieve this, Eurofund Group, intends to invest €25M to transform Parma Retail into ‘Parma Promenade’ thus ensuring the long-term operational success of the centre, with works to commence by the end of 2023.