ARTICLES LABELLED WITH TAG retail park

Romania was ranked fifth at a European level in 2018 regarding the deliveries of retail space in retail parks, being overtaken in this hierarchy only by France, Spain, Great Britain and Italy, according to Cushman & Wakefield’s report.

New research from Cushman & Wakefield has revealed European retail park floorspace increased by 2.2% in 2018, reaching a total of 50.1 million sqm, with France and Spain leading the way in terms of new schemes. The report states that 995,000 sqm of new retail park space was completed in Europe last year, down 15% on 2017. A stable development trend is expected going forward, with 1.4 million sqm of new retail park space scheduled for opening in 2019/2020. Nevertheless, quick and easy construction and a growing number of schemes below 5,000 sqm are expected to boost the number of openings.

Following the expansion of its retail real estate portfolio in Serbia this year, UK-based property investor, developer and asset manager Poseidon Group continues to strengthen its Capitol Park network in Southeastern Europe by opening 10 new locations by 2020 in Croatia.

Group BIG CEE Serbia entered into a partnership with Fashion Company to acquire one more commercial centre in Serbia, Fashion Park Outlet Indjija. BIG Group acquired the majority of shares (67.5%) in this project, with Fashion Company as the main partner, which holds remaining rights (27.5%).

The construction of retail park Prochownia Łomianki (Łomianki Powder House), Ghelamco Poland’s new project located right past the northern border of Warsaw, in Łomianki, has been launched. The space of the building will cover around 5300 sqm. The project is scheduled to be completed in December 2019.

Immofinanz is continuing the expansion of its Stop Shop retail park chain in Serbia with its tenth Stop Shop retail park, located in Sremska Mitrovica.

Mitiska REIM, a specialist investor in European retail parks, announced a major new strategic partnership with Karuzela Holding. Under the terms of the agreement, Mitiska REIM and Karuzela will form a joint venture in Poland, and Mitiska REIM’s FRI 2 fund will acquire a 50% holding in 2 retail parks and 2 gallerias owned by Karuzela, with a total gross leasable area (GLA) of 35,600 sqm, and both parties will co-develop 4 additional projects with a total GLA of approximately 60,000 sqm.

AFI Europe announced that it would start building a retail park in Arad by the end of this year. The developer will invest €40 million in the project located on an 80,000 sqm land plot, zf.ro reports.

Oasis Retail Development & Consulting has entered into a partnership with Austrian-based group Supernova for the development of Prima Shopping Center Sibiu. The 40,000 sqm retail park is located north of the city centre.

Catalyst Capital, a European real estate investment and fund management firm, has completed the acquisition of €194 million of high-quality retail assets in Sweden, Germany, Poland and an office development in Paris for its new Catalyst Core Plus European Property Fund (CCPEPF), a €1 billion “evergreen” real estate fund. Catalyst has acquired Galleria Center Syd in Malmo from Baring Real Estate, the Rathaus Center Dietzenbach near Frankfurt from Hahn Group, the Zielony Targówek retail park in Warsaw from Credit Suisse Asset Management and agreed to forward fund an office development by VINCI Immobilier in Saint-Denis, Paris.