Galeries Lafayette Group, a major retail business group in France, will open a new 9 400 sq.m. store inside the Doughty Hanson & Co owned Prado shopping centre.
As a temple of contemporary fashion, this new Galeries Lafayette store will offer over 4 floors a wide range of brands from the most prestigious to the most accessible.
The signing of the Galeries Lafayette lease is the first signing in the shopping centre, undertaken by the Retail department of Cushman & Wakefield France, to whom Doughty Hanson & Co have exclusively entrusted the commercialization of this exceptional site.
“The opening of this third store in Marseille confirms our desire to consolidate our presence in France’s second city. For Galeries Lafayette, the Vélodrome/Prado site represents a very good opportunity, especially as none of the other department stores of the town currently have access to this exceptional catchment/retail area. The strategic implantation will therefore allow us to position ourselves and to offer a “grand magasin/department store” in this area of the town. This 2017 opening will allow us to welcome a new local customers, in complement to our two other stores in Marseille”, said Nicolas Houzé, Department Stores’ Managing Director, Galeries Lafayette Group.
Developed by Doughty Hanson & Co, with its 23 000 sq.m. of commercial surfaces and 50 premium shops, Prado shopping centre will offer consumers an unprecedented shopping experience.
Conceived by internationally renowned architectural studio Benoy, Prado is a new concept of shopping centre. Far from traditional designs, the site draws its inspiration from the universe of high street retail. Prado will offer various spaces with different atmospheres. Thanks to its extraordinary curved architecture, its illuminated glass canopy, its large glassed surfaces and planted terraces, Prado will become a landmark within the urban landscape.
“The arrival of an institution such as Galeries Lafayette reinforces our centre’s premium commercial strategy. Moreover, the geographic location of the site, its harmony with the immediate vicinity, as well as the originality of the concept and its qualitative positioning, have been enthusiastically welcomed by retailers, and many of whom wish to install even three years before the centre’s opening”, said Jean-Raphaël Racine-Grisoli, Real Estate Managing Director France and Benelux, Doughty Hanson & Co.
This new shopping centre, which should open in 2017, is located within one of the most desirable urban areas and has a very strong commercial potential. Located in the heart of the 8th district of Marseille, the site benefits not only from a privileged location at the foot of the Stade Vélodrome, in immediate proximity to major leisure hubs (beaches, Borely park, hippodrome) and to tertiary and residential complexes, but also from a first rate level of accessibility (2 metro lines, 13 bus routes, motorways A7, A50 and A55).
“Prado is a pioneering shopping centre that benefits from three important advantages – visibility, accessibility and conviviality – and which will allow people to live a new shopping experience”, explained Christian Dubois, Managing Director, Cushman & Wakefield France.
In this operation, the landlord was advised by the law firm Gide Loyrette and Orféo Development, the tenant was advised by the law firm DS Avocats.