News Article Czech Republic EPG Karlovy Vary retail
by Property Forum | Retail

Investor EPG Group has started an extensive renovation of the Varyáda shopping centre in Karlovy Vary. Part of it is the modernization of the existing premises as well as the addition, thanks to which the leasable area of ​​Varyáda is expanding to 27,000 sqm.

The total built-up area will increase from 21,500 sqm to 33,000 sqm. The construction work carried out by Metrostav will be divided into several phases. The centre will remain fully open during the reconstruction. The expected completion date corresponds to the start of the Christmas season in 2025. The total investment of the EPG Group will exceed €40 million.

The building was commissioned in 2005 and, together with the Central Most shopping centre, belongs to the portfolio of the investment company EPG Group. It currently has approx. 18,000 sqm of retail space occupied by the Albert hypermarket and 70 other tenants.

Construction works will start in the northern part of the centre, where an extension will be created, into which the existing Albert hypermarket will be relocated. It will cover an area of ​​3,800 sqm. Another transformation includes the food court, which will offer 10 gastro units after its opening in November this year. The work schedule subsequently continues with the modernization of the existing premises of Varyáda, in which the current tenants will also participate. Some brands will remain in the same location but will undergo renovation of interior elements. Other units will be relocated to newly created or modified premises. The existing paving, lighting and relaxation zones will also be transformed. The last two stages of construction will take place in the southern part of the centre. In the left section of the extension, a Premiere Cinemas multiplex with six screens will be built on an area of ​​2,500 sqm.