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Covid-19 has presented property owners and developers with unique challenges, and for Atterbury Europe that is compounded by having operations in three different territories: Romania, Cyprus, and Serbia. Asset manager Vlad Valcea gives some insights into the Company’s strategy.

In recent years, F&B has been hailed as the retail-centric development equivalent of a knight in shining armor; an offer that cannot be replicated online, that delivers customers an experience worth seeking-out and returning to time and again. The onset and impact of Covid-19 highlights the importance of a successful F&B strategy and the development of appealing F&B destinations that respond to how the customer of the future will shop day and night, and how mixed-use places are stitched together.

Designer Outlets Wolfsburg has reopened, presenting interesting new openings with Sunglass Hut and Petrol Industries. Many other stores have also been refurbished and modernized.

The shopping resort in Saint-Etienne with its about 70 shops and restaurant cannot open as planned due to the ongoing crisis.

However, according to Otto Ambagtsheer, CEO of VIA Outlets, the way in which customers shop will change, at least on a temporary basis. For example, in some of the company’s markets, they will not be able to let guests try on clothes before they buy them, and clothes that are returned will need to be quarantined for three days.

If tenants experience a substantial drop in turnover–25% or more – they can convert the quarterly advance payment of rents into monthly rents and, if necessary, can request a month by month rent deferral, provided they substantiate their request with information regarding turnover.

“The lessor & lessee relation reflected in traditional lease models we are currently familiar with will transform into partnership models where risks and benefits will be shared.”

The management board of Żabka Polska, the owner of the largest chain of convenience stores in Central and Eastern Europe, decided to transfer over €1 million for activities addressing the epidemiological threat. The company sent an official letter to the Prime Minister and declared full support in ensuring the safety of all Polish citizens.

“Architecture, construction and floor plans set parameters for the experience of a room, and they also set conditions for the acoustics and natural sound environment that is created when people are in that space.”

The first salon of the optical industry leader – Vision Express – will open in Galeria Wiślanka. This shop will combine medical services and the sale of glasses and lenses in one place, ensuring professional service as well as the care of specialist doctors.