July 2020

Supermarket Income REIT, the UK supermarket real estate investment trust providing secure, inflation-protected, long income from grocery property in the UK, announces the acquisition of the Tesco Extra in Newmarket, Suffolk, from Standard Life Pooled Pension Property Fund for £61.0 million (excluding acquisition costs), reflecting a net initial yield of 4.6%.

Leading management and technology specialist for parking and visitor insight, GroupNexus, has identified that during the first week in July, motorway service station visits have now surpassed pre lockdown figures from the same period four months ago, showing an increase of 4.46%, whilst dwell time has decreased by 14% to 30mins, compared to pre-pandemic. [1]

The transformation of Madrid’s 123,000 sq m. Parque Corredor shopping center advances rapidly and first units have been handed over to Inditex Group. Zara, Pull & Bear, Bershka and Stradivarius stores to open after this summer.

Since opening their doors on June 15, The Boulevard, Banbridge and The Junction, Antrim, two of Northern Ireland’s largest out-of-town retail schemes, have enjoyed a significant rise in footfall comparable to the same period in 2019 and unlike many high streets, this hasn’t dipped dramatically as the novelty of being out wears off.

Olena has been working for the company since 2015, her responsibilities include the formation and development of the company’s business reputation, support of corporate B2B and CSR projects, cooperation with media outlets and establishing Media Relations, positioning of malls and implementation of B2C programs.

The owners, Claus and Gunnar Heinemann, appoint Dr. Dirk Schneider as Chief Commercial Officer (CCO) on the Executive Board of Gebr. Heinemann as of 1 September 2020. He succeeds Kay Spanger, who is retiring after more than 40 years with the Hamburg-based Duty Free company.

First half of 2020 saw a record high investment activity with EUR 3.5 billion of investment transactions closed, including pending transactions at final stage. Although this has been a 30% better result than during the corresponding period last year, achieving this year a similar result to record-breaking volume of EUR 7.8 billion registered last year may be difficult – according to Avison Young.

Neucölln Carrée in Berlin changes ownership. Union Investment acquired the centrally located local supply center in Berlin’s Neukölln district (on the corner of Sonnenalle and Grenzallee) with a leasable of 13,364 sq m and 14 shop units for its institutional real estate fund.

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