ARTICLES LABELLED WITH TAG retail

Echo Polska Properties NV announced results Q1 2017 with distributable earnings 3.2% ahead of budget at €16 million. At period end the portfolio was valued at €1.5 billion with a portfolio of 10 retail and nine office properties and two Warsaw-based retail development sites.

There are currently 192 retail parks in the Czech Republic, moreover 66 retail parks, totalling approximately area of 300 000 sqm, are planned to be constructed. The existing parks account for more than 790 000 sqm of retail space, 752 000 sqm of which is occupied. Hence the vacancy rate stands at 4,8% and is lower than in the previous years. These are the findings of Cushman & Wakefield’s recent detailed market research. The survey results are summed up in a map that is just being released. The map includes all existing and planned retail parks in the Czech Republic. 

After entering the Hungarian market in 2016, M7 Real Estate has chosen the Budapest office of CBRE to manage the entire Hungarian real estate portfolio within the M7 CEREF I Fund. 

A Plaza Centers subsidiary has signed a non-binding letter of intent with an unnamed investment fund regarding the sale of the Torun Plaza shopping and entertainment centre in Poland. The LOI binds the purchaser to a strict timeline for undertaking a comprehensive due diligence process which would result in the transaction being completed by the middle of September 2017.

The residential and office markets have received the lion's share of attention in Budapest recently, but the retail market is also gaining more interest from both tenants and investors. Tourism is booming, domestic purchasing power is growing and the only thing that can hinder growth is the lack of available space and new developments on the market.

Echo Polska Properties announced the conclusion of the acquisition of three retail assets, Twierdza in Kłodzko, Twierdza in Zamość and Wzorcownia in Włocławek in Poland, from real estate funds managed by Blackstone for €141.60 million.

Through its subsidiary NEPI has concluded agreements to acquire the Serdika Center and Serdika Office buildings in Sofia, Bulgaria for €207.4 million.

Deutsche Asset Management, on behalf of its German funds, has acquired three Fashion House shopping outlets in Poland from a fund managed by Peakside Capital. The outlets are located in Warsaw, Gdansk and Sosnowiec.

The rapid growth of e-commerce is unlikely to put an end to existence of physical stores. Both online and offline platforms will co-exist, becoming increasingly intertwined. However, in-store technology innovations will change shopper behaviours in shopping centres. These are the key findings revealed in the Retail Revolutions report by Savills.

Echo Polska Properties (EPP) and Echo Investment have finalised the purchase of shares in the Galeria Młociny shopping centre in Warsaw, which is under construction. EPP is its majority shareholder (70%) and it will manage the completed asset whereas Echo Investment holds the remaining 30%, it is to finish the construction process and will be responsible for the commercialisation and marketing of the project.