Warburg-Henderson acquires retail property in Austria

Warburg-Henderson KAG has bought the retail warehouse 'Pannonia Shopping Park' in the eastern Austrian town of Neusiedl am See for its Osterreich Fonds Number 1. The financial details of the transaction were not disclosed.

Located in the triangle where Austria, Hungary, and Slovakia meet, the two-building shopping centre provides 7,900 m² of lettable retail space. The first building was opened in September 2006 and is fully let. Its tenants include the chemist Drogerie Markt, shoe shop Reno Schule and clothing stores Takko Modemarkt and KIT Textillien. The second building, which is also fully let, is to open in March.

The Osterreich Fonds Number 1 now owns nine properties in Austria, including four retail centres, with a total market value of EUR 200 mln. Outlining its strategy for 2007, Warburg-Henderson said it is preferably seeking office properties in Vienna and other main cities. It is also in the market for retail properties across Austria, and the new acquisition of a retail property is imminent, it said.

Warburg-Henderson KAG was founded in 2001 as a joint venture between M.M.Warburg & Co and Henderson Global Investors and has launched eight property funds since December 2002 with German and international institutional funds.