French retail specialist Altarea Cogedim has signed an agreement with Icade to buy a 28,500 m2 retail park project in Nîmes in southern France, located next to Carré Sud and Cap Costières. Financial details were not disclosed.

Designed by architects Crégut-Duport, the project will accommodate around 15 small units, restaurants and medium-sized stores alongside Boulanger and Décathlon, as well as 1,300 parking spaces.

Permits have already been received and work is due to commence in the fourth quarter, with delivery slated for year-end 2012. The shopping centre is due to open in 2013.

The retail park will be part of a shopping complex with regional aspirations and therefore 'dovetails perfectly with Altarea Cogedim's strategy of large regional retail developments', the company said. It is expected to adopt the Family Village concept of out-of-town retail developments offering shoppers mass-market chains and a high-quality environmental and architectural setting.