Ticker

Atrium agrees €298 million disposal of Polish retail assets

The sale of Atrium Koszalin and Atrium Felicity is part of the Company’s ongoing strategy to reposition its portfolio towards large, high quality dominant retail centers in prime urban locations and capital cities.

Atrium European Real Estate Limited has entered into an agreement to sell two Polish shopping centers to ECE European Prime Shopping Centre Fund II, managed by the independent fund managing company ECE Real Estate Partners, for €298 million, representing around 3% premium to book value as at March 31, 2019. The transaction is subject to the fulfilment of certain conditions precedent and is expected to be completed in the third quarter of 2019. The sale of the two Polish assets, Atrium Koszalin (photo), located in Koszalin, and Atrium Felicity in Lublin is part of the Company’s ongoing strategy to reposition its portfolio towards large, high quality dominant retail centers in prime urban locations and capital cities.

From 2015 to date, the Group has acquired €0.5bn of prime assets and disposed of €0.7bn of assets in secondary and tertiary location while transforming the composition of the Company’s portfolio from 153 properties in seven countries to 32 higher quality assets in four countries. This transaction follows the disposal at book value of a land plot in Gdansk earlier this year for €28 million and the agreed purchase of the c. 7,000 sq m Kings Cross Shopping Centre in Warsaw for €43.1 million, with completion of the latter expected in the second quarter of the year.

Sign up for our ACROSS Newsletter. Subscribe to ACROSS Magazine.

Ticker MORE

intu Lakeside launches new leisure offer to attract higher footfall

intu has launched the £72 million leisure extension to intu Lakeside this week to attract more people.

ACROSS Magazine is now also available as an E-Paper!

Try it and get free access until the end of November 2019.

Hammerson appointed James Lenton as CFO and Executive Director

Lenton will become an Executive Director on joining the Company on September 16, 2019 and will take over the role of CFO with effect from October 1, 2019.

Paddock Paris Opens 75 Outlet Stores

Fiminco Group is behind the new concept for an arty fashion & lifestyle outlet named Paddock Paris, which is set to open at the end of November 2019.

Neinver appointed Óscar Mata as Asset Management Director for Spain

In his new position, Mata will lead and implement the company’s asset management strategy at the centers Neinver manages in Spain.

Humpit Hummus joins line up at Hanningtons Estate Brighton

The retailer has taken 168 sq ft at 15 North Street, next to the new entrance to Hanningtons Lane.