ARTICLES LABELLED WITH TAG retail

CBRE Czech Republic has taken over the property management of the Novo Plaza shopping centre in Prague, starting 1 January 2021. The property offers 27,500 sqm of space, comprising a retail centre with a GLA of 21,500 sqm including retail, office, storage and support areas and a hypermarket with a GLA of 6,000 sqm, anchored by Tesco. The shopping centre has 710 underground and 140 surface-level parking spaces.

IKEA plans to invest €50 million in the construction of a shopping park near Belgrade. The company plans to start the construction of the AVA Shopping Park in the beginning of 2021.

Dutch-Czech real estate investment company Fidurock has opened a new retail park Choceň in the Pardubice Region of the Czech Republic. The retail park comprises 10 units with Penny Market as the main tenant, occupying an area of ​​1,300 sqm. Other tenants include Pepco, KiK, Okay elektro, Rossmann, ZZN, a pharmacy and others.

Master Management Group (MMG) has been granted an occupancy permit for its Hi Piotrkowska complex in Łódź. In December the first tenants are gradually to start their operations from the main building. At the same time, MMG has signed further leases including with the Rossmann drugstore and the Łódź-based florist Badylarz.

Immofinanz is continuing the expansion of its Stop Shop retail park brand, as announced, and has added eight locations to the portfolio shortly before the end of the year. Six fully rented retail parks in Serbia and the Czech Republic with roughly 43,000 sqm were purchased from Mitiska REIM, a Belgian investor specialised in these types of commercial properties. In addition, Immofinanz closed the purchase of a fully rented retail park (approx. 5,500 sqm) in Voitsberg, Austria, during the fourth quarter of 2020. The portfolio in Croatia will be increased by one property in the city of Ludbreg.

The 172 million-strong consumer market of the CEE-17 region  should continue to deliver better growth rates and returns than more developed markets in retail and other sectors according to a new report released by Colliers International

Dutch-Czech real estate investment company Fidurock has obtained a zoning decision for the construction of a new retail park in Piešťany, Western Slovakia. The company acquired the land plot back in July 2018.

French real estate group Catinvest has opened the first Class A office building in Craiova, Romania. The new offices of Electroputere Parc are part of the mixed-use building covering 12,300 sqm that has been completed this year and another similar building with 12,700 sqm is set to be completed in Q2 2021. The total investment cost amounts to €39 million.

Cushman & Wakefield Echinox advised Mitiska REIM to sell a property in Braşov to French DIY retailer Leroy Merlin, which continues its expansion plans on the local market.

The Q3 2020 property investment volume for Romania is estimated at €408 million, a value approximately 68% higher than the one registered in the same period in 2019. Although the road ahead is marked by uncertainty, considering the persistence of the COVID-19 pandemic and the restrictions associated with it, there is a consistent pipeline of deals which could be closed soon and throughout 2021. JLL has published its Bucharest City Report for Q3 2020. The report provides a detailed analysis of specific real estate markets in Bucharest: office, retail, industrial and residential.