MERLIN Properties Annual Report 2017 / English

ı 38 ı Marineda Prior to the acquisition by MERLIN, Marineda had an area addressed to ”luxury brands” that failed due to the lack of demand within customers as well as for misconception of the traffic, which resulted in virtually total vacancy in the area. After the acquisition MERLIN designed a plan to bring this area back to life: (i) retenanting plan to convert the space into a sports related area, and (ii) re-designing plan to improve visibility, vertical connections and interior design. Total investment amounts to € 2.5m, out of which € 1.8m of Capex and € 0.7m of FOC. The area is now running at 91% occupancy, with an ERV of € 0.5m. Thader First Nickleodeon themed park in Europe, operated by Parques Reunidos, boasting occupancy. Works started in January 2017 and the inauguration of the space was held on December 1st. The complex features amusement park-like attractions and educational areas targeting family oriented clientele on weekends and school visits on working days. GLA 5,096 Capex (€ thousand) 8,900 ERV (€ thousand) 600 Occupancy 100% Tenants Nickleodeon G.L.A. (sqm) 3,402 Capex (€ thousand) 2,467 ERV (€ thousand) 453 Occupancy 91% Tenants Rock & Gym, Urban Jungle, Coolligan, Oteros SHOPPING CENTERS