Prado Shopping Center, Credit: Klépierre

Impact of covid-19 on Klépierre’s activities in Europe

Since early October, further restrictive measures have been imposed in various countries to limit the spread of Covid-19.

In France, Belgium, Barcelona in Spain, Poland, the Czech Republic and in certain Italian regions,(1) the authorities have ordered the closure of all stores except those selling basic necessities.(2) 

47% of Klépierre’s malls (in value) is unaffected by those general closure measures. In other European countries in which Klépierre operates, less restrictive measures have been implemented. In Germany and the Netherlands, the authorities have enforced the closure of bars and restaurants (takeaway service permitted), while in Scandinavia, local restrictions have been placed on restaurant opening hours.

Lastly, in Iberia, restrictions have been imposed on movement between certain regions. On average, in these countries, footfall over the past two weeks reached 71% of the prior-year level (vs. 78% in September). On the other hand, in order to mitigate the impact of these restrictions on retail businesses many countries have announced the implementation or the renewal of tailored-made support packages in the form of tax exemptions or credits, access to state-guaranteed loans or financial compensation to cover fixed costs such as the payment of rents or the salaries of furloughed staff. 

To date, the rent collection rate stands at 82% for the first nine months of the year and at 71% in October.

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

Ticker MORE

Realm banks on F&B occupier growth with key appointment

Realm has grown its leasing team with the appointment of Caroline Helyer as leasing manager. Caroline will be working across several of Realm’s schemes – including Dalton Park, Milsom Place and Bedford Riverside – where she will be leading initiatives to secure new retail lettings and lease renewals, as well as enhance the customer shopping experience and F&B offering across the portfolio.

redos buys Äppelallee-Center retail warehouse in Wiesbaden, Germany

Hamburg-based large-scale retail property specialist redos Group has acquired the Äppelallee-Center in Wiesbaden near Frankfurt. The purchase was made on behalf of the special AIF "Redos Einzelhandel Deutschland III".

PINKO will open store in Ocean Plaza Shopping Mall in Ukraine

The Italian brand PINKO will open the second store in Ukraine in Ocean Plaza shopping mall. The exclusive distributor of the brand is ARGO. The new store with an area of ​​160 sq.m. will open its doors on the first floor in May. A wide range of women's clothing, shoes and accessories will be presented.

Sabine Georgi Appointed as ULI Germany/Austria/Switzerland Executive Director

Sabine Georgi joins the Urban Land Institute (ULI) from Royal Institute of Chartered Surveyors (RICS).

Acquisition of The Moor, Sheffield in a Joint Venture with BRAVO

NewRiver is pleased to announce that its joint venture with BRAVO Strategies III LLC in which it holds a 10% stake has exchanged contracts to acquire The Moor, a 28 acre estate in Sheffield city centre, from CEP ASI UKPF Nominee 1 Limited and CEP ASI UKPF Nominee 2 Limited, for total consideration of £41.0 million, representing a capital value of £60 per sq ft.

Ziv Gigi appointed as Managing Director for GTC’s operations in Romania

GTC has announced the promotion of Ziv Gigi to the position of Managing Director Romania. He will be responsible for all operations of GTC in the Romanian market.