IMMOFINANZ has announced that they will expand their STOP SHOP retail park portfolio to 90 locations in nine countries by the end of 2019. With recent acquisitions and developments the portfolio will in total comprise of over 650,000 sqm of rentable space and will have a book value of approximately 900.0 million EUR.
The company's annual lease income is approximately 6.6 million EUR, representing a gross return of 8.6 percent.
“"This growth not only strengthens our position as Europe's leading retail park operator, but also enhances our sustainable cash flow. It is expanding our tenant base and rental offer to international retail brands. This represents a clear competitive advantage, and our potential return in these markets speaks for itself, ”said Oliver Schumy, CEO of IMMOFINANZ .
RECENT ACQUISITIONS IN SLOVENIA AND POLAND
The most recent acquisitions include six fully rented retail parks in Slovenia and Poland with roughly 54,000 sqm of rentable space. The retail parks will now undergo a re-branding process in order to be fully transformed into the STOP SHOP concept. The acquired properties already house anchor tenants such as Deichmann, Takko, KiK, dm, New Yorker and Spar which are already well-established in existing STOP SHOP's across Europe.
Five retail parks in Slovenia with roughly 46,200 sqm of rentable space were acquired from Centrice Real Estate Ljubljana s.o.o. The retail parks are located in towns Jesenice, Skofja Loka, Murska Sobota, Slovenj Gradec and Slovenska Bistrica.
As a result of the acquisition, the STOP SHOP portfolio in Slovenia now includes 14 properties with approximately 98,400 sqm of rentable space.
The retail park acquired in Poland covers 7,900 sqm and is located in Lowicz. The seller is a company belonging to the Polish Developer Pro Group and the closing is expected to take place in the coming weeks.
This acquisition, with two projects currently under development, will increase the STOP SHOP brand in Poland to ten locations. In total the portfolio will have approximately 69,000 sqm of rentable space.
This August, IMMOFINANZ opened a STOP SHOP in the Serbian city Sremska Mitrovica. The retail park has roughly 7,000 sqm of rentable space. It houses well-known brands like New Yorker, CCC, LC Waikiki and Deichmann.
A STOP SHOP in the Polish city of Siedlce is currently being developed and will have around 14,000 sqm of rentable space. The project is scheduled to open in spring 2020. Future tenants include three LPP brands, as well as CCC and the Hebe drugstore chain.
The future STOP SHOP in the Polish city of Zielona Gora will have approximately 6,700 sqm of rentable space. Construction will start as soon as the building permit has been received.
In addition, IMMOFINANZ recently completed the extension of a STOP SHOP in the Czech city Trebic. This fully rented property now has nearly 22,000 sqm of rentable space. This makes it IMMOFINANZ‘s largest retail park based on size.
ABOUT STOP SHOP
STOP SHOP is the IMMOFINANZ‘s brand for retail parks in Central and Eastern Europe. They are located in catchment areas of 30,000 to 150,000 residents and house a range of good value stores. Thanks to their excellent transport connections as well as extensive parking, the properties appeal to price-conscious “smart shoppers” who value easy accessibility.
IMMOFINANZ‘s STOP SHOP portfolio, including the latest acquisitions and development projects, now covers 90 retail parks in nine countries: Slovakia (16 STOP SHOPs), Slovenia (14), Hungary (14), Austria (13), Czech Republic (10), Serbia (10), Poland (10), Croatia (2) and Romania (1).
View more retail park projects across the region on our Properties page.
Sign up to our weekly newsletter to keep updated on our new articles about the retail market. SIGN UP HERE.
If you would like us to cover a story about your project or company write to us at firstname.lastname@example.org