Parma Promenade, Parma Italy
A new experience in Parma.
Eurofund Group agreed its first acquisition in Italy, to relaunch a 40,000m2
retail asset with €25 million of redevelopment and repositioning works planned.
Eurofund Group entered into the Italian market with an agreement to acquire
Parma Retail, Northern Italy. The centre has a GLA of circa 40,000 m2 and it
will be transformed into Italy’s first open-air, fully integrated retail and leisure
promenade.
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.
To achieve this, Eurofund Group, intends to invest €25 million 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.
In addition to strong international, and national, tenants already present in the centre such as Kiabi, OVS, Decathlon, Euronics, Tedi, Pepco, Terranova, and Cisalfa, the transformation will attract flagship international fashion, Food & Beverage, and leisure brands to the project.
Just as importantly, the terrace of 4,000 m2 located on the first floor of the centre will host our ‘anti-mall’ concept, The Hood. Parma Promenade will also include a tailored food offering that will harness Parma’s recognised status as Italy’s ‘Food Valley’.