M Core Spain expands retail park portfolio with Viapark acquisition, Murcia

M Core Spain has expanded its Spanish portfolio with the acquisition of ViaPark Murcia, taking its portfolio to seven retail parks in operation and under development across the country.

Located in Alcantarilla, Murcia, serving its southern catchment area, ViaPark comprises approximately 5,900 sq m of retail accommodation with 304 parking spaces. The asset forms part of the wider ViaPark retail destination, which extends to approximately 23,000 sq m and is anchored by E.Leclerc hypermarket and Decathlon. The scheme serves a catchment of around 246,000 people within a 15-minute drive and is occupied by Flash Bee, Merkal and KFC. 

The existing car park and adjoining land also offer opportunities to create further value through new standalone units, including drive-thru facilities.

The transaction was sourced off-market by the M Core Spain team, reflecting its growing presence and relationships across the Spanish market.

Sebastian Macdonald-Hall, Chief Investment Officer at M Core (Europe), said:

“Spain is an important market for M Core and one where we continue to see opportunities to grow. ViaPark is a strong addition to our existing portfolio and reflects our focus on well-located retail assets where our local teams can support long-term performance through active ownership and asset management.”

Alfonso Cuesta, Head of M Core Spain, added:

“ViaPark complements our retail park portfolio well and fits our long-term investment approach.  It is part of an established retail destination, fully leased at reversionary rental levels with opportunities to add further value through active asset management. The acquisition also demonstrates our ability to source off-market opportunities through our local relationships thanks to a solid reputation as retail experts and reliable investors.”