ARTICLES LABELLED WITH TAG retail

Calioppe Investments has acquired the scheme from Rank Progress, a Warsaw Stock Exchange listed company engaged in the property investment and development sector. The total value of the transaction amounts to €26.7 million including €15.2 million of debt financing. The seller has been advised by BNP Paribas Real Estate.

Colliers International has launched a new business line in Romania, Retail Services, and aims to become a „one-stop shop” for retail developers. The Retail Services Division is coordinated by Simina (Istrate) Niculiţă, who has more than 12 years of experience in the real estate market, being in charge of both renting and selling shopping centers.

The European Bank for Reconstruction and Development (EBRD) is participating in the acquisition of Żabka, one of Poland’s leading food retailers, with an equity investment of up to €25 million.

HB Reavis has started the construction of the Stanica Nivy project in Bratislava. The Nivy Tower office building is the first to be built and is destined to become a landmark with the highest point reaching 125 metres.  The remaining construction of the scheme, which will include a new supra regional shopping centre, a modern marketplace and international bus terminal, will be launched in the summer.

Extensions to established shopping centres will be a significant driver of new floor space across Europe in the next two years, according to Cushman & Wakefield’s latest European Shopping Centre Development Report. 4.5 million sqm is expected to be delivered in 2017 and 2.3 million sqm in 2018. One-quarter of that will be attributable to the extensions of the existing shopping centres. In the Czech Republic extensions will make as much as 80%. 

"The aggregate value of the investment involving several different investors is estimated at €150 million", said Marcus Wild, CEO of SES Spar European Shopping Centers, which will manage and own the newest shopping centre in Slovenia. This will grow in Šiška, the most densely populated district of Ljubljana, by the autumn of 2019. The construction work is already starting in June 2017.

According to a summary of Q1 2017 results, NEPI made progress with planning and permitting for several developments and extensions, including those in Galati, Novi Sad and Ramnicu Valcea. Further to the receipt of certain approvals, Victoriei Office in Bucharest is expected to receive permitting for the internal fit-out during the next quarter, enabling tenants to start operations in the fourth quarter of 2017. Zoning and permitting for the Promenada Mall extension continue to experience delays. 

After acquiring the Campona and Pólus shopping centres in Budapest, CPI Property Group has again entrusted CBRE to manage its new properties. CBRE has also been selected as the exclusive leasing agency for the two malls.

Retail property investments continue to attract investors´ attention within the EMEA region as well as in the Czech Republic. Due to a lack of quality retail schemes available for purchase in the European core markets, investors´ interest has been broadening in terms of geographies as well as retail asset classes. The latest JLL study summarises the trends on the European retail market from an investors´ perspective. 

German retailer Lidl bought two XXL Mega Discount stores, located in Sibiu and Galati, from Penny Market. Each property offers 2,500 sqm of retail space. Lidl will also take over the land surrounding the stores. The transaction price is estimated to be between €6 million and €8 million, according to zf.ro.