ACROSS | The European Retail Real Estate Magazine

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GPEP TAKES OVER PORTFOLIO & ASSET MANAGEMENT MANDATE FOR SUPERSTORES AND RETAIL PARKS

GPEP GmbH (“GPEP”), has taken over the portfolio as well as the asset and property management rights for a portfolio of 3 superstores and 3 special retail centres with strong anchor tenants on behalf of an institutional investor.

The 6 properties, having a combined rental space of over 54,000 sq m, generate annual rental incomes in excess of 5.1 million euros.

The goal is the further technical and economic optimisation of the properties through extensions and alterations. This is intended to result in a near-term increase in the occupancy rate from its present level of above 90% to almost 100% on the one hand as well as increased property values over the long term on the other hand.

An attractive tenant mix, including food outlets, and a welcoming ambience should help retain existing tenants over the long term while at the same time gaining new tenants.

The properties are located in Lower Saxony, North Rhine-Westphalia, Rhineland- Palatinate, Hesse and Bavaria and are easily accessible and visible. Around 40% of the space is leased to food retailers, including Kaufland, real and REWE. The remaining, mixed-use, areas are, at just under 60%, operated by retailers in the areas of textiles, household goods, DIY and automotive.

Jochen Friedrich, Managing Director of GPEP. Image: GPEP

Jochen Friedrich, Managing Director of GPEP. Image: GPEP

“We are now also seeing an increase in the targeted demand for active asset management in the retail sector. To optimise their portfolios, investors are using specialists”, explained Jochen Friedrich, Managing Director of GPEP, whose areas of responsibility also include marketing and sales.

“In contrast to residential and office properties, the high profile of the potential tenants such as chain stores or textile chains is just as important to generate maximum returns for investors as is the assessment of the location and the technical expertise”, added Herwart Reip, Managing Director of GPEP GmbH, whose areas of responsibility also include due diligence as well as portfolio management and financing.

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INGKA CENTRES (FORMERLY IKEA CENTRES) LAUNCHES HANDS-FREE SHOPPING IN RUSSIA

Ingka Centres, formerly IKEA Centres, has launched Hands-free Shopping at three of its MEGA branded Russian shopping malls. It is thought to be the first time the service has been brought to multiple retail destinations of this size in Russia, and reflects Russian consumer demands for convenience, quality service, and time saving in a more omni-channel world.

Arena Mall is transforming, becoming a landmark shopping and entertainment destination for Bacau

Romania: Arena Mall shopping center in Bacau, a reference for the retail market in the Moldova region, will enter into a comprehensive extension and modernization process that will result in a 60% increase of its leaseable area and in the construction of a multi-storey car park.

Excellent retail investment performance and an influx of new brands

Poland: JLL advisory agency summarizes the situation on the retail market at the end of Q3 2018.

Seasalt brings Cornish style to The Mall at Cribbs Causeway, Bristol

UK: The joint owners of The Mall at Cribbs Causeway, intu and M&G Real Estate, have announced that Seasalt Cornwall and Schuh Kids will be the latest new brands to join the centre, while specialist holiday operator TUI confirms an expansion.

SOLIDARITY DAY @ CARROUSEL DU LOUVRE

As part of the Solidarity Day initiatives, on 19 September 2018, a 50-strong group of Unibail-Rodamco-Westfield employees gathered in Paris for a day of giving back, dedicating their time and energy to an association supported by Carrousel du Louvre – one of Unibail-Rodamco-Westfield’s shopping centres.

KLÉPIERRE HOLDS INVESTOR DAY IN THE NETHERLANDS

Klépierre is holding its Investor Day in Amsterdam and Utrecht today.