by Property Forum | Investment

DBK, a Czech retail specialist, has acquired a majority share in Europark – Štěrboholy, a shopping centre in Prague 10 from Austrian developer, SES Spar European Centers.


DBK, a Czech retail specialist, has acquired a majority share in Europark – Štěrboholy, a shopping centre, strategically situated in a dynamic, densely populated residential district in the eastern part of Prague. Europark is located next to the Prague inner city ring road benefiting from excellent visibility and a well-balanced tenant mix with more than 60 brands. Besides its hypermarket anchor, Albert, and DIY store, OBI, Europark’s key occupiers include Hervis, H&M, Notino, Takko Fashion, Neoluxor Books, C&A, CCC, Humanic and DM drogerie. In the longer term, the city has planned further public transportation improvements including a tram line extension as a response to the growing number of residents in the area.
 
“Europark has various mid-term income enhancement opportunities ranging from unit reconfiguration to the “right-sizing” of Albert’s unit. In addition, the centre has the potential to offer future development opportunity, which shall address the needs of current and future inhabitants of the surrounding residential districts as well as customers from a more distant catchment area,” says Hana Kollmannová, Director at JLL Czech Republic and sell-side advisor in the Europark transaction.