Real Estate fund AUP Bratislava, whose only asset is the well-known shopping centre Aupark Bratislava, has reported a return of 23.67% in the euro class since its establishment in 2021.
Aupark shopping centre is known for its strategic location, sustainable operation, modern premises and a suitable combination of tenants, including premium brands. It offers 231 units for rent. Neither the pandemic nor inflation significantly affected the occupancy of the shopping centre, which remains at 98%.
Financial and investment group WOOD&Company, together with joint venture partner Tatra Asset Management, bought a majority stake in Aupark from Unibail-Rodamco-Westfield in 2021. At that time, it was the largest single-asset real estate acquisition in Slovakia with a total value of €450 million.
The acquisition of the shopping centre was planned for three tranches. In the first, investors obtained a 60 per cent share, which in 2022, according to the agreed conditions, increased to 87%. The last tranche and completion of the purchase are planned for this year.
Over the last 12 months, the sub-fund delivered to its investors returns of 9.48% in the euro class.
The opening of the Aupark expansion is scheduled to take place in the fall of 2024. The result will be an increase in the commercial area of the shopping centre by 6,000 sqm. In Aupark, the EL&N London cafe will present its first operation on the Slovak market this year. It has a strong position on social networks thanks to targeting the young generation and the attractive interior design of the premises.
At the end of the summer, a green facade with an area of approximately 600 m2 with almost 40,000 plants is planned. The construction consists not only of steel elements but also of refurbished aluminium frames and glasses from the original facade.
