Madrid, Spain

Mercado de San Miguel, Madrid

San miguel by night
Madrid, Spain

Mercado de San Miguel

Asset type

Gastronomy

GLA

1,764 sqm

Acquired in

2017

Transaction price

70 million EUR

Risk profile

Core +

Tenants

40+ high-end culinary experiences

The food market at San Miguel Plaza in the heart of the historic centre of Madrid is one of the city’s major attractions and is a designated heritage-protected building in Spain. Constructed in wrought iron and glass, the 1,764 sqm building is divided into 40 + high-end culinary experiences brought by chefs who are renowned both in Spain and abroad.

Acquired in 2017, this gastronomic market has been a magnet for foodies from the start and a fixture on Madrid’s tourist trail. After one year of active asset management to boost the quality of the culinary offer, the Mercado was relaunched in 2018 as a high end dining venue.

The renovation and re-opening strategy of the centrally located market has been focused especially on the improvement of aspects such as quality, cleanliness, price points, ingredients and customer experience of the food, drink, desserts, coffee and takeaway offering.

The Mercado de San Miguel is now one of Europe’s leading gastronomic markets, making it one of Madrid’s most popular sites, attracting the majority of the city’s visitors. This gourmet market, made to measure for lovers of fine food, is currently considered to be Madrid’s principle culinary temple and the reference point among all European gastronomic venues.