ARTICLES LABELLED WITH TAG retail

Piotr Trzciński, Head of Investment – Poland at Savills Investment Management talked to Property Forum about the changes forced by pandemic on the investment market, financing conditions and the long-term strategies of major international players.

The Board of Directors of Atrium European Real Estate has received a proposal from Gazit Globe Limited to acquire the equity of Atrium that Gazit does not currently own for a consideration of €3.35 per share. An independent committee of the Atrium Board will review and consider the proposal.

Following their reopening in May, shopping centres have seen both their revenue and footfall increase to a rate exceeding the performance during the same period last year. The footfall was lower than in the pre-crisis year 2019, but the revenue was comparable; in fact, it was slightly higher. Supermarkets and hypermarkets fare the best in terms of revenue; electronics and health and beauty products are also doing well. The current performance of shopping centres can therefore be described as very strong, with figures exceeding initial expectations, and investors show renewed interest in properties again, with several major retail transactions being planned for this year and the next. To date, office and logistics properties have been selling the best this year.

Trei Real Estate GmbH will be opening its 26th retail park under the Vendo Park brand in Poland. It is located in Oswiecim, a small town of around 40,000 residents in the Lesser Poland Voivodeship in southern Poland. This latest Vendo Park has a leasing area of around 5,300 square metres and is leased to seven retailers and a supermarket. In total, Trei invested c. €7.2 million in the property. The new retail park is the first in the Lesser Poland Voivodeship.

The pandemic had a limited impact on the turnover of retail parks compared to shopping malls in Romania, according to real estate consultancy Cushman & Wakefield Echinox. 

Total take-up on the Bratislava office market reached 37,000 sqm which represents a year-on-year increase of 19.5%. As the pandemic slowed down, retail leasing activity also returned and with it the surge in footfall and turnovers. Total quarterly industrial/logistics take-up recorded a strong 22% year-on-year growth, reaching 146,300 sqm. Cushman & Wakefield published its Q2 2021 industrial, office and retail market reports focused on the Slovak market.

ZDR Investments Group has acquired the Tesco hypermarket in Senec, east of Bratislava, from Tatra Asset Management. Cushman & Wakefield represented the seller in their divestment.

Residential developer Lucron has sold the entire retail part of the Urban Residence project in Bratislava to Slovak group Coopex Hold. After the complete occupation of facilities and their sale, the entire Urban Residence is already in private hands.

Retail group NEPI Rockcastle secured a green loan worth €73.5 million from International Finance Corporation (IFC), a member of World Bank, in a bid to expand its sustainable business infrastructure in Romania. 

Awaiting the reopening of shops and service outlets to go shopping at traditional brick-and-mortar stores, positive footfall results achieved by most shopping centres in May, the opening of a second Primark store with a third one in the pipeline, plus a strong debut of a new Polish off-price concept – these are some of the key news and developments to have taken place in the retail sector in Q2 2021, according to BNP Paribas Real Estate.