ARTICLES LABELLED WITH TAG shopping

In 2016 the Romanian retail market was characterized by a high volume of delivered space and entry of new brands, which opened their first shops both in already existing shopping centers and in recently opened projects. Colliers International expects to see new names on the market, especially among Polish brands.

Hammerson plc and its partners in VIA Outlets, APG, Meyer Bergman and Value Retail, have signed an agreement to acquire, subject to regulatory clearance, four outlet centres across Europe. The retail venues, located close to major cities in Germany, Portugal, Spain and Poland, represent total gross asset value of €587 million and a blended net initial yield of 5.5%.  The transaction takes the total size of the VIA Outlets portfolio to €1.1 billion across 10 assets.

As of November 1 2016, Cushman & Wakefield has been appointed to undertake property management and leasing services at Mammut Shopping and Entertainment Centre in Budapest. The over 104 000 sqm, Mammut Shopping and Entertainment Centre,comprising two phases, is the largest shopping centre in Buda, with over 350 units and parking premises. The first phase, Mammut I. was handed over in 1998, the second phase, Mammut II. was delivered in 2001. 

HB Reavis has officially opened the Czech Republic’s first Aupark in Hradec Kralove. The 21,000 sqm shopping centre brings 120 stores, new international brands, a large food court and various service and entertainment units to the city.

Immofinanz will soon start construction on a further shopping centre under its VIVO! brand in the Polish city of Krosno. The new shopping centre will have approx. 21,000 sqm of rentable space for more than 60 shops. Pre-rentals are successfully underway, with the future tenants including H&M, Media Markt and Helios Cinema. The investment costs will total approx. €34 million, and the opening is planned for the fourth quarter of 2017. The VIVO! Krosno will be the third VIVO! shopping centre in Poland. 

Galeria Metropolia in Gdańsk-Wrzeszcz was officially opened on 22 October 2016. Przedsiębiorstwo Budowlane Górski is the investor of the shoping centre, whilst Cushman & Wakefield is responsible for its commercialization.

According to the latest report by JLL, High Street Retail in Prague 2016/2017, the Czech capital is the most attractive destination for expansion of international retailers in CEE and is being considered as the gate when entering this region. Demand for quality space on Prague’s high streets, Pařížská and Na Příkopě, is outstripping supply which is reflected in the current rent rate of up to €190/sqm/month for a notional unit of 100 sqm in a prime location.

Erbud SA has been chosen as the contractor of the shell of Galeria Libero, which is being developed by Echo Investment in the southern part of Katowice.

In H1 2016, total modern retail stock in Poland rose to more than 13.5 million sqm GLA. The key trends include new shopping centre and retail park openings in cities below 100,000 inhabitants and the growth of the outlet centre sector in agglomerations with 200,000–400,000 inhabitants. Cushman & Wakefield has released its data on the Polish retail market in H1 2016 in its report Property Times: Increased market competition calls for a quick response.

Atrium European Real Estate, owner and manager of shopping centres and retail real estate in Central and Eastern Europe has announced the appointment of Scott Abbey as Group Head of Leasing.