Piazza Afragola

Location
Afragola (Napoli)
Italy

Sector
Retail

Size
37,552 sqm

Under Management
2021 - 2025

Stabilising income, upgrading the tenant mix, and positioning the retail park to capture value from upcoming infrastructure investments.

Leucosia acted as asset manager for Piazza Afragola, a retail park at the northern gateway to Naples. The mandate focused on re-energising the scheme through a full re-gearing of leases, and the introduction of new international tenants. Occupancy increased from 80% to 95%, strengthening commercial density and broadening the park’s catchment. The refreshed tenant mix, anchored by mass-market brands aligned with local demand, lifted NOI from €1.2m to over €1.6m and extended the WAULB to 4 years, improving income stability and visibility.

In parallel, Leucosia coordinated maintenance works, structural capex, and operational upgrades. The team also led discussions with Ferrovie dello Stato on major infrastructural works linked to the Napoli Afragola high-speed station - an intervention expected to materially enhance accessibility and future footfall.

A full recovery and rebuild of the data room, together with comprehensive documentation of leasing, technical, and operational activities, prepared the asset for a transparent and efficient sale process.

Overall, the repositioning secured income, strengthened the retail offer, and aligned Piazza Afragola with the significant growth potential of its evolving infrastructure context, while setting the stage for a clean exit.