ARTICLES IN Retail TOPIC

16
Nov

European high streets get more expensive

by Property Forum
Soaring rents have seen London’s New Bond Street rise to become the world’s third most expensive retail street, while New York’s Upper 5th Avenue and Hong Kong’s Causeway Bay retain their first and second place rankings, according to Cushman & Wakefield. Prague’s Na Příkopě Street has improved its position from last year’s 23rd to the current 22nd in a chart of the 68 most expensive high streets.
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14
Nov

Echo Investment completes leasing of Szczecin mall

by Property Forum
The leasing department of Echo Investment finalised the lease of the last unit just before the opening of an extended part of Galaxy in Szczecin. Echo Investment is responsible for the construction and lease of the facility for EPP which is the owner and manager of Galaxy.
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14
Nov

Granit Polus secures €335 million loan for Budapest mall

by Property Forum
Granit Polus Group has signed a credit agreement of €335 million with a syndicate of Erste Group Bank AG, Erste Bank Hungary Zrt., UniCredit Bank Hungary Zrt., UniCredit SpA and K&H Bank Zrt. in order to refinance existing loans and provide a capex credit line for WestEnd City Center.
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14
Nov

Czech retail stock to see significant growth after 2019

by Property Forum
The total floorspace in shopping centres across Europe increased by 1.17 million sqm to 160.8 million sqm at the midpoint of 2017, according to Cushman & Wakefield. Since the beginning of 2017, a total of 57,850 sqm of new shopping centre space has been completed in the Czech Republic. The figure includes the extension of IGY České Budějovice by 9,250 sqm, an extension of the Chodov Centre by 35,000 sqm and the newly built Central Jablonec with a floor space of 13,600 sqm. This represents a 67% growth over the previous year. However, the market will deliver markedly less shopping centre space next year. According to current information, just one shopping centre will be completed – the Géčko in Ostrava. By contrast, several major projects will open after 2019.
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13
Nov

Bucharest’s Veranda Mall to be expanded

by Property Forum
The developer of Bucharest’s Veranda mall will begin work on expanding it one year after inauguration, zf.ro reports.
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13
Nov

Redefine to expand its Polish portfolio

by Property Forum
Redefine Properties is to expand its Polish property platform with the acquisition of a strategic 25% stake in a €1 billion retail portfolio of 28 assets in Poland. Redefine is co-investing with Pimco and Oaktree Capital Management who will each have 37.5% of the portfolio which is being acquired. Key locations in the portfolio stretch from Warsaw to growing regions across the country like Krakow and Silesia.
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13
Nov

Poland’s retail market closes strong quarter

by Property Forum
In Q3 the modern retail market in Poland grew by nearly 140,000 sqm of GLA. This is a significant increase as compared to the first half of the year when only a mere 26,000 sqm of GLA within 5 schemes were completed. Notably, the first IKEA store was delivered in Lublin with the residents of Poland’s eastern regions in mind. According to BNP Paribas Real Estate Poland, the end of the year is set to bring more than 200,000 of GLA sqm in new retail projects.
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13
Nov

Deutsche Hypo to finance Gdansk shopping mall

by Property Forum
Deutsche Hypothekenbank is financing the Galeria Baltycka shopping centre in Gdansk for real estate company Shopping-Center Galeria Baltycka GmbH und Co. KG sp.K. The financing volume amounts to almost €81 million, of which 50% will remain with Deutsche Hypo on a long-term basis.
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08
Nov

NEPI Rockcastle invests €30 million in Shopping City Galati

by Property Forum
NEPI Rockcastle has invested nearly €30 million in the expansion and modernisation of Shopping City Galati and the first brands that will appear following the expansion will be inaugurated on November 16. An additional 21,000 sqm was added to the 27,000 sqm shopping centre.
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07
Nov

BNPPRE manages rebranding of Pradera centres

by Property Forum
The Property Management department at BNP Paribas Real Estate Poland ran the rebranding process for the shopping centres that have recently changed hands from Ikea Centres Polska to the Pradera fund. The new name and corporate design can now be seen in Polish and German locations.
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