This is the first collaboration, of its type for Frasers Group in a joint venture with another partner, reflects the confidence they have placed in Eurofund Group’s expertise and experience.
Upon acquisition, the joint venture will embark on a €35 million transformation programme, significantly extending and enhancing the centre, making it a key shopping destination for the entire region and along the Adriatic coast.
The redevelopment programme with be completed by late 2027 and will extend the centre’s GLA to 30,000 square metres, making it the largest shopping mall in the Marche region. Existing occupiers include Decathlon, H&M and Original Marines.
Eurofund Group’s leasing strategy will transform the centre’s offering by introducing a top-tier brand mix, including leading fashion and sports brands, as well as a large area dedicated to food & beverage, in line with current trends and consumer needs.
Ion Saralegui, CEO of Eurofund Group, said: “The acquisition of the Grotte Center marks a key step in our expansion strategy in Italy, a market that is proving to be particularly strategic for us. Our goal is to relaunch an asset with great potential, creating a focal point not only for the Marche region but for the entire Adriatic coast, capable of generating value for the community and the area.”
The operation strengthens Eurofund Group’s growth strategy in Italy and across Europe, where the Group is known for its ability to deliver pioneering projects that redefine the consumer experience by successfully integrating retail and leisure.
(dp)
