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Mixed use scheme in Spain for Citygrove
Leisure developer, Citygrove, has received outline planning consent for its first leisure and retail scheme in Spain.
Anchored by a 50,00sq ft, 12-screen cinema from Warner Brothers, the six hectare site in Granada will include a bowling complex and a range of bars, restaurants, nightclubs and leisure/retail outlets. The company is currently in talks with a number of operators for a health and fitness site.
'Spain is a really fantastic country for long term land ownership projects,' says the managing director of Citygrove, Toby Baines, 'It's a very good market for private investors.'
Baines said the £25m scheme, which is due to complete in 2003, will act as stepping stone for similar ventures: 'Once we get this under our belt, we'll start to grow our office in Madrid.'
Citygrove recently completed a shopping centre in the Czech Republic, and has also announced the disposal of its leisure park in Chichester to the pension fund, National Mutual for £25m.
Work starts this week on the 160,000 sq ft park which includes a 10-screen cinema from Cine UK, a Cannons health and fitness club and a bowling scheme. Luminar Leisure has taken two units for its Chicago Rock and Orange House brands and Scottish & Newcastle have plans to open a new hotel.