Shopping centers: the Montpellier group Socri Limited has an “exceptional” year

The La Coupole shopping center, in Nîmes, benefits from an investment of 9 million euros from its owner, the Montpellier group Socri Limited. – MAX ALARCON Mstudiophoto

With the Polygone Béziers and the Coupole Nîmes, among others, the group specializing in commercial real estate, which is celebrating its 20th anniversary in 2024, continues its progress throughout the Mediterranean arc, through a policy of ;#39;active investments.

Launched 20 years ago by Nicolas Chambon, the Socri Limited group is gradually establishing itself on the urban development market through an offer of commercial revitalization of city centers . The latter is based on relevant investments in existing shopping centers, to which the group is giving new impetus.

This is the case, in the former Languedoc Roussillon, of two flagship addresses: the Polygone shopping center, in Béziers, opened in September 2010, and the La Coupole shopping center, in Nîmes, taken over two years ago. Investments which, today, are paying off.

More than 4.5 million visitors to Polygone Béziers

Indeed, the results for the year 2023 at these two flagship addresses are extremely positive for the Montpellier group. Last year, the Polygone Béziers, which welcomed 7 new brands, saw its attendance increase by 7.7% compared to 2022 (4.6% compared to 2019, the pre-Covid year). It reached the mark of 4.5 million visitors, which allowed an increase of 8.1% in its turnover.

As for La Coupole Nîmes, attendance is also up: by 4.4%. A first positive result since the takeover of the shopping center. "The recent renovation work on the central patio played a key role in increasing this attendance", rejoices&nbsp ;Pierre-Antoine Desplan, general manager of Socri Limited.

The La Coupole center in Nîmes, a key link in the strategy

And it's not over, since the Nîmes center will continue to benefit from new investments intended to bring it up to current standards. "We are going to commit 8 million euros of work, in addition to the million already committed last year". The project will be launched in April 2024 and should be completed "for the 2025 Féria des Vendanges".

The objective of Socri Limited, through this modernization strategy, is to attract new brands. Nîmes today constitutes a major link in development policy in the Mediterranean arc. After starting with the Polygone Montpellier (more than 14 million visitors in 2023), of which Socri Limited is now co-owner, the group is placing its pawns.

The good thing about Galeries Lafayette in Béziers and Avignon

A few years ago, he relaunched the Galeries Lafayette store in Béziers, which was to close its doors for good. The relaunch is encouraging since, as Pierre-Antoine Desplan reveals, "in 2023, the store has achieved a turnover of more than 6.5 million&# 39;euros excluding taxes". Then, in 2022, it was the turn of Galeries Lafayette in Avignon to come under the control of Socri Limited.

Again, a relevant investment. Between them, the two stores achieved a combined turnover of 26.2 million euros last year. "Thanks to a fruitful partnership with the Planet Indigo group, these stores are regularly ranked among the top five in their respective Galeries Lafayette comparison group several months in the year, this which demonstrates their attractiveness.

A luxury villa estimated at $30 million in Miami

But if the group prospers in the region, it is on another project, much more ambitious this time, that it is expected. Indeed, Socri Limited was selected by the Monegasque State for the redevelopment of the Fontvieille shopping center, in Monaco. The objective: to make it even more efficient, thanks to an urban rewrite. "We are currently at the stage of preliminary studies for the restructuring and extension of the center".

Finally, and this is an unprecedented diversification, which marks the ambitions of the Montpellier group, Socri Limited will deliver its first luxury real estate project in the United States. He is completing work on a first villa of 600 m² in Miami, Florida, with an estimated price tag of $30 million. "We acquired two other plots of land nearby in order to build two other villas of the same standard", says Pierre-Antoine Desplan.