Retail developer Milligan has announced that it has signed a joint venture agreement with Eiffage, the 8th largest European construction company who already have a presence in Portugal, for the financing and construction of Portugal's first "Retail Planet" in Barreiro, Greater Lisbon

Barreiro Retail Planet, created by Milligan, is a concept combining the formats of both a retail park and a shopping centre. It will consist of over 40 speciality stores and restaurants, 13 retail park outlets and 1,750 car park spaces totalling a gross lettable area of 35,000 sqm.

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The scheme is already 70% let, with the four large anchor stores comprising a 11,000 sqm hypermarket, a Decathlon store occupying 4000 sqm, DIY brand, Aki, with 3578 sqm and the Portuguese consumer electronics brand, Radio Popular with 2200 sqm.

Barreiro Retail Planet is in a highly accessible and prominent location, 30km south of Lisbon and benefits from a strong catchment. 700,000 people live within 30 minutes drive of the scheme.

The site is along the A2 accessible trough N10 and located next to Fertagus, Coina train station and will have access to an even wider catchment once the work that has started on the new IC32 ring road, South of Lisbon, has been completed, scheduled for completion in 2011.

The project has been issued with its business license and construction is due to commence summer 2009 with the aim of launching in Autumn 2010.

(CD/BMcC)