Shopper Park Plus' successful capital raise covering approximately 50% of the transaction value has enabled the acquisition of a strategic portfolio of eight Auchan hypermarket anchored assets across Poland, with the remaining amount financed through a loan facility signed with Aareal Bank AG last week, marking a significant milestone in the company’s continued expansion within food-anchored retail real estate. The favourable financing terms further enhance the portfolio’s strong cash-flow generating capacity and support SPP’s intention of increasing dividend per share in the future.
The transaction includes the acquisition of one-ninth of Auchan’s Polish hypermarket portfolio, further strengthening the company’s position in the region’s retail market. The assets comprise approximately 208,000 sqm of gross leasable area, with the portfolio independently valued at over €210 million. The portfolio’s yield on the purchase price is approximately 9.1%, in line with previous disclosures, highlighting SPP’s ability to acquire high-quality assets with long-term leases and stable cash flows at attractive yields.
The portfolio comprises properties located in well-established retail hubs across Poland, including, among others, three of the country’s ten largest cities, with locations in the Warsaw metropolitan area, Białystok and Szczecin. Together, they generate more than 17.2 million annual visitors (2025) and benefit from strong regional purchasing power as well as their position as established retail destinations. SPP’s new portfolio offers nearly full national coverage across Poland, with only the northern region currently not represented.
Long-term, secure income profile
The assets are secured by exceptionally long hyperlease terms of up to 30 years – i.e. 15-year fixed term with 3x5 extension options - structured under triple net lease agreements, providing predictable and stable cash flows. The portfolio’s average rent is approximately €7.6 per sqm per month, below current market levels, providing further upside potential through active asset management. Current occupancy stands at approximately 96%. Excluding Auchan as the anchor tenant, approximately 60% of the leasable retail space is occupied by major international brands, including Rossmann, Pepco, Jysk, Reserved, CARRY and other well-known retailers. The proportion of these areas will grow in the next 1-2 years as Auchan is going to reduce its sales areas (downsize) by c. 18,000 sqm, which represents a value-accretive opportunity similar to the Tesco downsize in the Hungarian portfolio.
All properties are held freehold, ensuring full ownership control and long-term strategic flexibility.
Value creation strategy and ESG focus
In addition to the existing retail footprint, the portfolio includes adjacent development land, creating opportunities for drive-through formats, EV charging infrastructure, and further tenant mix optimisation. The transaction includes approximately 1.6 million sqm of land, with a built-up ratio well below 20%, providing a substantial embedded land bank.
Shopper Park Plus intends to actively enhance the tenant mix by leveraging established relationships with key regional and international brands. Strengthening the retail offer is expected to further increase footfall and asset performance.
Sustainability remains a core strategic pillar. The company will focus on reducing the portfolio’s carbon footprint, improving energy efficiency, and aligning operations with ESG best practices to create long-term value for investors and communities.
Continued expansion in food-anchored retail parks
Following this transaction, SPP remains actively engaged in identifying additional acquisition opportunities, particularly food-anchored retail parks, across the CEE region.
This acquisition reflects a disciplined investment strategy focused on defensive retail segments, strong underlying consumer demand, long-term income security, and value-enhancing asset management.
