Aberdeen Asset Management has sold the King Cross shopping centre in Zagreb to SES Spar European Shopping Centers. The transaction price has not been disclosed.
Located in the municipality of Jankomir, which is the first major commercial zone in Zagreb known for its retail and business facilities, King Cross is one of the most attractive shopping destinations in Zagreb. Recognizing that the first Decathlon in Croatia is open in King Cross, the Center provides customers with other international retailers such as InterSpar, Harvey Norman, Jysk and many others.
JLL advised Aberdeen Asset Management in the sale process of the first-generation shopping centre.
“This is proof that the appetite is still high for retail facilities in the region with predictions that the same level of demand will remain in the future. Due to the improved economic situation, increased purchasing power, and EU status, Croatia along with Slovenia, Bulgaria and Serbia remains the most interesting destination in Southeast Europe for investors focusing on commercial real estate,” commented Uros Grujic, Head of Capital Markets for South East Europe at JLL.
“Since 2007, over 80% of non-tourist-related investment deals have been retail transactions, and this reflects both the quality of retail assets on offer in Croatia and also investors’ continued appetite for retail assets in the country. We are sure that SES will help further transform King Cross given their excellent pedigree owning and developing retail assets across Slovenia, Austria, Italy, Hungary and Czech Republic,” added Andrew Peirson, Managing Director for South East Europe at JLL.
