La Gavia

La Gavia is Klépierre’s southeastern Madrid asset, occupying 65,000 sqm of GLA in the Vallecas district along the M-40 ring road. The centre opened in 2002 as a Carrefour-anchored development, with Carrefour Property holding ownership until Klépierre acquired the property in 2014 as part of the Corio merger. The asset sits at one of Madrid’s clearest socioeconomic boundaries: the Vallecas district concentrates working-class housing and a substantial first-generation immigrant population, with average household incomes running materially below the Madrid metropolitan average.

Tenant strategy is engineered for the catchment’s price sensitivity rather than premium positioning. The Carrefour hypermarket on the lower level remains the volume anchor, providing daily-necessity shopping that drives weekly visit frequency. Primark, H&M, and the Inditex group’s discount brands (Lefties, Stradivarius, Bershka) handle apparel volume; the higher-margin Inditex formats (Zara, Massimo Dutti) hold smaller footprints than at Klépierre’s other Madrid asset Plenilunio. Yelmo Cines anchors entertainment, and a compact food court of mass-market chains rounds out dwell programming.

The operating model is volume-led: La Gavia generates high transaction counts at lower average tickets than Klépierre’s premium-positioned Iberian properties. Madrid Metro lines 1 and 11 deliver direct access at La Gavia station, with public-transport share running close to 50 percent on weekdays, one of the highest figures in the operator’s European portfolio outside central urban properties.

For Klépierre, La Gavia provides Madrid metro coverage in a price-sensitive catchment that complements Plenilunio’s mid-market positioning. The two assets together give the operator dual exposure to the Madrid market’s demographic spread.