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Maremagnum Barcelona

We co-invested and undertook a €14 million refurbishment which transformed Maremagnum into a respected and exciting retail lifestyle destination. Milligan created over €50 million in added value, selling for a landmark €122 million in 2006.


Maremagnum Barcelona

We co-invested and undertook a €14 million refurbishment which transformed Maremagnum into a respected and exciting retail lifestyle destination. Milligan created over €50 million in added value, selling for a landmark €122 million in 2006.

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In 2005 Maremagnum was a failing centre with a poor reputation, owned by Credit Suisse and Pacific Investments and financed by Aareal Bank.  The centre was anchored by leisure and F&B, attracting tourists only.  

Milligan was approached by the investors and asking for help.

  • We saw an opportunity to make Maremagnum a destination for the people of Barcelona, as well as the tourists.
  • We conducted in-depth research, using focus groups, and regular incepts studies by Ipsos.
  • Transformed the tenant mix into a retail-led scheme, including Mango, Adolfo Domigues, H&M, Jack and Jones, Pull and Bear.

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The entrance was improved creating better access to the 1st floor and we created Centre Analyser, a sales recording system which we shared with tenants to improve perfomance and participation in marketing activity.

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We hijacked the city's annual La Merce Festival making it the centre piece for our re-launch event significantly boosting ROI.

A partnership with an award-winning and high-profile graphic designer was forged for the re-branding exercise and we launched an innovative independant boutique concept as a pop-up event bringing the highly acclaimed Pulgas Mix Event to our site.

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In 2006, following redevelopment 87% of locals questioned felt that the changes to Maremagnum meant it was a 'better place to shop and spend time'.

When Maremagnum sold in 2007 for a landmark €122m it created over €50m in value.

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