Mercialys expands Toulouse presence with €18m retail park buy

French real estate company Mercialys has acquired an 8,200 m2 retail park located next to its existing Shop•Park Toulouse Fenouillet.

Shopping Centre - Mercialys

This strategic acquisition, purchased from a private investor for €18.0 mln (including transfer tax), significantly boosts Mercialys' control over the site and its potential for generating value.

The newly acquired property includes six fully leased retail units occupied by prominent brands like Nike, Picard, Centrakor, and Maxi Zoo. Its prime location within the Shop•Park is expected to immediately enhance both commercial activity and operational efficiency. The acquisition's immediate yield is notably higher than Mercialys' average portfolio yield.

This purchase is part of a larger plan to revitalise and expand the Shop•Park Toulouse. It complements ongoing redevelopment efforts in the older section of the site, with the goal of substantially increasing the number of mid-sized retail units featuring popular brands.

By gaining full ownership of the 200,000 m2 site, Mercialys can streamline asset management, refine its leasing strategies, and improve the overall retail experience, fostering long-term value creation.

Capitalising on Toulouse's robust economic and demographic growth—it's one of France's most attractive metropolitan areas—Mercialys aims to establish Shop•Park Fenouillet as the dominant retail destination in the region by 2027, projecting over 7.5 million annual visitors.

Through continued investments, Shop•Park Toulouse has expanded its offerings to 130 stores, tripling its annual footfall from 2.1 million to over 6.6 million visitors in the past ten years, solidifying its position as a co-leader in the Toulouse metropolitan area.

For this transaction, Mercialys received advice from Screeb Notary Office, Arsene Taxand for tax matters, and Haldis for technical due diligence. Pascual and Associés Notary Office advised the seller.