ARTICLES LABELLED WITH TAG retail

South African investor Tower has entered into an agreement to sell the Vukovarska retail property in Zagreb, Croatia at an 11% premium to its book value.

Redevco aims to grow its mandates and portfolio to €10 billion by 2025 from €7.5 billion currently, by launching a drive into new real estate sectors beyond retail. Third-party investors now comprise 40% of Redevco’s capital base at €2.8 billion, compared with zero six years ago. The company is extending the opening of its investment platform to like-minded investors and will consider a variety of investment vehicles to broaden its investor base, with an initial focus on joint ventures.

In Q1 2020, the Centerscape group has purchased a retail property located in Gocław, Warsaw with an Aldi market as the anchor tenant on a rental area of 3,888 sqm.

406,000 sqm of retail space was handed over on the Polish market in 2019. The development pipeline currently stands at approximately 500,000 sqm, 85% of which is scheduled for opening by the end of 2020. Going forward, investors’ interest will increasingly shift towards smaller cities below 100,000 inhabitants. Cushman & Wakefield has summarized the Polish retail market.

Pasaż Chełmiński, modern retail park, in the main shopping area in Chełmno, has been sold by TUF Real Estate to LCP Properties. Avison Young’s investment team represented the buyer in the transaction.

Echo Investment has secured three standing and working first-generation shopping centres belonging to the Tesco Group. Altogether, around 240,000 sqm mixed-use area consisting of office, retail and residential space can be developed on plots located in Poznań, Łódź and Kraków.

Delta Holding has laid the foundation stone for the Delta Planet Niš shopping centre, which will spread over 40,000 sqm on two floors.  Completion is scheduled for spring 2021.

Flow East has pre-leased 75% of its mixed-use project being constructed on Wenceslas Square (Václavské náměstí), with just 5,000 square metres of office space left available at The Flow Building five months ahead of its completion.

GTC signed a €130 million refinancing loan agreement for one of the largest assets in its portfolio, Galeria Jurajska. Located in Częstochowa, the 48,700 sqm shopping centre offers over 200 stores, service points, restaurants and a multi-screen cinema.

Local capital group Lotus Center, the largest owner of shopping centres in Oradea, acquired the multifunctional complex Oradea Plaza from Portico Investments, in a transaction advised by Colliers International.