A BRITISH retail giant is set for further expansion into Spain, after a property gamble paid off handsomely.
Intu, owners of Manchester’s Trafford Centre and Lakeside in Essex, boasts a €13 billion property-portfolio, after gambling on Spain’s market 12 months ago.
The company acquired the Puerto Venecia in Zaragoza for a mouth-watering €450.8m last year.
With interest peaking in Spain, the company also purchased a site on the Costa del Sol – close to Malaga – where it is building a new retail centre.
A spokesman said: “We are always looking to grow the Intu brand. Be that in the acquisition of property or by setting up new centres.
“We hope to become a major player across Europe.”
The company, which was previously called Capital Shopping Centres, said that retailers were now targeting larger stores in prime locations to respond to the growing click-and-collect trend.