Managing retail assets was never an easy job. As the energy crisis is no longer a future problem and the recession seems inevitable, firms involved face huge challenges and have to rethink their strategy and short-term steps to survive. Property Forum asked Miklós Gyertyánfy, Chief Operating Officer at Hungary-based landlord Gránit Pólus Management Zrt. about their way to tackle those challenges.
IHG (InterContinental Hotels Group) has signed a management agreement with Granit Polus Group for a compelling property to be re-branded to Crowne Plaza Budapest in 2021. The hotel, located in downtown Pest in the same building complex as the Westend City Centre shopping centre, is currently operated by Hilton under the name Hilton Garden Inn Budapest City Centre.
Founded almost 25 years ago by owners and managers of the former TriGranit Group, Granit Polus recently announced its intention to launch a major mixed-used development in the centre of Budapest. Owner Sándor Demján and CEO Gyula Ágházi shared the company’s new strategy with Property Forum.
Granit Polus is about to transform the most valuable plot of land in Budapest by a large-scale mixed-use development. The new district will host office buildings, retail units, residential areas and hotels.
Continuing the ownership consolidation program started two years ago, Peter Munk, a Canadian businessman, was bought out of Granit Polus. In the new ownership structure, Sándor Demján and his direct management are the majority owners of the group of companies. Sándor Csányi remained as minority owner.
Granit Polus Group has signed a credit agreement of €335 million with a syndicate of Erste Group Bank AG, Erste Bank Hungary Zrt., UniCredit Bank Hungary Zrt., UniCredit SpA and K&H Bank Zrt. in order to refinance existing loans and provide a capex credit line for WestEnd City Center.
Kraków's Nowe Czyżyny centre will be home to a new brand from the sports segment. The Newbridge leasing department has signed a lease agreement with 4F. In recent weeks, Monnari, Triumph and W.Kruk have also debuted in the facility, while Empik is preparing to open a store.
ROCKWOOL is expanding its office space in the Nowy Rynek D building, developed by Skanska in Poznań. In 2020, a competence centre was established on an area of 6,000 sqm. Now, the company has decided to lease additional 900 sqm.
Primark has opened the doors of its fourth shop in Poland for the first time in Katowice's Silesia City Center. The store occupies more than 3,600 sqm of retail space.
New appointments
Tezenis brand has joined the tenants of Galeria Warmińska. This is the first showroom of this Italian brand in Olsztyn in Poland. The new boutique occupies an area of approximately 190 sqm.
Anna Trębicka will be responsible for the integration of all CBRE business lines in the Łódź region in Poland, as well as the development and proper functioning of the Łódź branch.
108 Agency announced the appointment of Petr Jílek as the new Head of Property Management for the Czech Republic.
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