Schroder European REIT's Metromar Shopping Centre. (Photo: Google Maps)Schroder European REIT's Metromar Shopping Centre. (Photo: Google Maps)

Schroder European REIT has secured a new key tenant at its Metromar Shopping Centre in Seville, southern Spain.

The tenant, Urban Planet, has signed a five year lease, with an option for a further five years, on about 1,200 square metres of space at the property, at a passing rent ahead of business plan at acquisition, said the REIT.

It will be Urban Planet's first leisure centre in the Seville region, with Schroder European REIT having secured exclusivity limiting its opening of other trampoline related businesses in the region.

Schroder European REIT acquired Metromar in May 2017 in joint venture with the Schroder advised Immobilien Europa Direkt, for about EUR52.5 million (USD62.5 million).

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.