Gran Plaza 2

Gran Plaza 2 is the flagship asset of Lar España Real Estate’s northwestern Madrid portfolio. The 42,000-sqm regional centre operates in Majadahonda, one of the affluent Madrid metro municipalities along the M-50 ring road housing roughly 75,000 residents with the highest average household income in the autonomous community. Lar España, Spain’s first listed retail-focused SOCIMI (BME:LRE), holds Gran Plaza 2 as part of its six-asset Madrid metro cluster spanning Plaza Río 2, H2O Rivas, and complementary properties.

Tenant strategy is calibrated to the affluent catchment. The mass-market depth (Mercadona, H&M, Inditex group) is shallower than Parquesur or Tres Aguas; the discretionary mix runs deeper, with Sfera (El Corte Inglés group) anchoring the premium fashion segment, FNAC handling consumer electronics and books, and a curated cluster of mid-to-premium specialty brands occupying the upper level. The Cinesa multiplex and a 16-restaurant food court extend dwell, with restaurant rents trending closer to central Madrid retail benchmarks than typical suburban averages.

Operating metrics reflect the catchment’s discretionary spending capacity. Average ticket sizes run roughly 30 percent above the Spanish suburban regional benchmark, with weekday lunchtime and weekend afternoon footfall driven by dual-income households from the surrounding municipalities (Majadahonda, Las Rozas, Pozuelo de Alarcón, Boadilla del Monte). Parking-led access dominates, with public-transport share running below 15 percent, again atypical of large Madrid centres.

For Lar España, Gran Plaza 2 represents the operator’s premium-suburban thesis. The asset features in Lar’s investor reporting as a yield-stable benchmark, with low turnover among anchor tenants and predictable footfall patterns insulated from the broader Spanish retail volatility cycle.