Prague-based Star Capital Investments has purchased two shopping centres in the Czech Republic, one from retail asset manager Pradera and another which was co-owned by Pradera and Bainbridge.
Financial details were not disclosed.
'Futurum Ostrava and OC Haná are traditional shopping centres that undisputedly fit into the Ostrava and Olomouc retail markets,' commented Josef Malír, managing director of Star Capital Investments. 'We are looking forward to the future and improving the real estate to further increase the comfort of shopping and range of services for visitors to the centres.'
The 30,000 m2 Futurum Ostrava shopping centre, which opened in May 2000, was co-owned by Pradera and Bainbridge, who were represented by CBRE. Star Capital simultaneously acquired the shares of the two previous owners to consolidate the asset. It is currently anchored with a Tesco hypermarket and a Cinestar multi-cinema.
CBRE will work with the new owner to manage the shopping centre and act as leasing agent.
CBRE also represented Pradera in the sale of OC Haná in Olomouc, a 9,400 m2 shopping centre which opened in 2002 and was expanded with a retail park component in 2016. The centre comprises 61 units and 490 parking spaces. Its main tenants include Takko, Sportisimo, Sparkys, Bata and A3 Sport.
'The acquisition of these two centres is very advantageous for Star Capital Investments, especially during the current market conditions when sales and the number of consumers visiting regional shopping centres is growing,' said Peter Wojtusiak, associate director of investment properties at CBRE.
Earlier this year, retail park specialist Pradera told PropertyEU that it was 'actively upgrading' its portfolio of CEE properties. ‘It is an exciting time for the CEE’s retail property market,’ the company’s head of CEE Agata Brzezinska said.
‘Over the last decade it has developed significantly, moving from infancy to become relatively mature in most CEE nations, with maturing retail destinations now throwing up significant value enhancement opportunities for asset managers and investors. As an active asset manager Pradera is always looking to unlock value, and we already have many successful examples from CEE. We are looking to take advantage of more opportunities across our portfolio in the region.’
