Jardín de Serrano

Jardín de Serrano is one of Madrid’s smallest and most concentrated luxury retail destinations, occupying a single late-19th-century palace conversion on Calle Goya in the Salamanca district. The specialty centre operates in a building owned by Pryconsa, the Madrid family-owned developer also responsible for ABC Serrano four blocks west on Paseo de la Castellana. The two Pryconsa retail assets together give the operator concentrated exposure to Madrid’s most affluent retail corridor.

The format places Jardín de Serrano outside conventional Spanish mall classifications. The property operates as a curated luxury arcade with approximately 12 boutique tenants distributed across three floors, with no anchor tenants in the conventional sense and total GLA significantly below regulatory thresholds for “shopping centre” classification under Spanish retail planning law. ICSC’s framework would classify the asset as Specialty Center on the basis of its luxury-curated identity and small-format programming.

Tenant selection follows the Salamanca district’s premium positioning. Yves Saint Laurent and Loewe (the Madrid-headquartered LVMH-owned luxury house) anchor the visible street-level frontages; the upper floors concentrate Spanish specialty designers, jewellery boutiques, and a small selection of European luxury house formats. The mix excludes mass-market international fast-fashion entirely, deliberately calibrating to the surrounding Calle Serrano luxury-corridor demographic.

The asset’s catchment is defined by Madrid’s wealthiest residential quarter combined with international visitor flows from luxury hotels concentrated in the surrounding eight blocks. Average ticket sizes at Jardín de Serrano run materially above any other Madrid retail property, reflecting the curated tenant set’s luxury positioning. For Pryconsa, the property complements ABC Serrano in establishing the operator’s premium-Madrid retail thesis through heritage-building adaptive reuse.