Indotek Group has come to an agreement with CA Immo on the purchase of the 16,500 sqm DunaCenter retail park in the Hungarian city of Győr in November 2018. The seller was represented by Colliers International during the deal.
The retail park which has an A+ energy rating, lies in the western part of Győr, near the M1 freeway exit. The DunaCenter shopping mall, which was handed over in 2009, houses 20 commercial units with 16,500 sqm of leasable space. 655 parking places are available for the guests of the retail park.
“Selling the DunaCenter is the last step of focusing our investment portfolio on office properties, a process that has been going on for years also in Hungary. Working closely with our tenants, we took advantage of the improving economic indicators in the last years to stabilize the operation of the retail park by signing new contracts and extending the existing ones. We are sure that this is a good basis for Indotek for the successful operation and business development in the future for which we wish every success,” Ede Gulyás, Managing Director of CA Immo Hungary commented.
“Our company is becoming an increasingly significant member of the Hungarian retail real estate market. During our transactions, we put a great deal of emphasis on properties where we saw a good opportunity to create value with sufficient expenses. We endeavour to upgrade the shopping centres in our portfolio to up-to-date market trends, also repositioning them to effectively serve the local community. In this spirit, we finished the modernization of Csepel Plaza in May 2018 and we started similar development projects in Zalaegerszeg and Sopron in the last months. Subsequent renewal projects will happen in the shopping centres of Debrecen, Szeged, Székesfehérvár and other cities. The DunaCenter in Győr fits into this plan well with its advantageous location and available spaces that can be rented. Our goal is to modernize and operate the establishment in accordance with the 21st-century expectations to satisfy the needs of both our tenants and the customers attending the shopping centre,” Dániel Jellinek, CEO and majority owner of Indotek Group added-