Fund II entered into a conditional purchase contract to acquire the Prado Shopping Centre development site in October 2010.
Prado Shopping Centre is a rare prime retail development site in the centre of Marseille, France’s second largest city. Set in the heart of the wealthiest area of the city, the site has excellent transport links via bus, road and metro. There is limited retail competition within the surrounding area and future development is constrained.
The development will comprise a 22,500 sqm shopping centre adjacent to the iconic Velodrome Stadium, itself due to be redeveloped for the 2016 UEFA European Football Championship.