HATRIC Q2 retail park in Hartberg, Styria. Credit: Union Investment
Ticker

Union Investment acquires retail park in Styria

The HATRIC Q2 retail park in Hartberg, Styria (Austria) has changed hands. Having previously acquired the adjacent phases HATRIC Q3 and Q4 from Rutter Immobilien Gruppe upon completion in 2017, Union Investment has now also secured the Q2 building with its approximately 6,800 sq m of rental space, which opened in 2005.

The vendor is again Rutter Immobilien Gruppe. The acquisition will be added to the holdings of open-ended real estate fund immofonds 1, which is marketed solely in Austria. The purchase price was not disclosed.

HATRIC Q2 consists of two separate sections: a food store, which is currently being expanded to 3,460 sq m, and a retail strip comprising some 3,330 sq m of space. The retail park is fully let. Food retailer Merkur, part of the REWE Group, is the anchor tenant that drives footfall to HATRIC Q2. It is scheduled to reopen in the expanded space in mid-September this year.

Union Investment was advised on the legal aspects of the transaction by lawyers Vavrovsky Heine Marth, on tax matters by TPA and on technical issues by OTEREA.

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

Ticker MORE

Multi Netherlands opens city centre project FORUM Rotterdam

The opening of the largest inner city regeneration project in Rotterdam in recent years, FORUM Rotterdam, took place on 24 September 2020, with a small gathering and in full compliance with the current COVID-19 guidelines. The opening event of this mixed-use project took place in the theatre of Donner bookshop, in the presence of Alderman Bas Kurvers of the Municipality of Rotterdam, developer Multi Netherlands, and the investors Deka Immobilien GmbH, Primark Netherlands B.V., Syntrus Achmea Real Estate & Finance and a.s.r. real estate.

JUMBO and SPAR further expand their network of stores in Vlora and Pogradec

Despite the economic difficulties dictated by the global COVID-19 pandemic, BALFIN Group has not withdrawn from investing in expanding and improving its retail network. JUMBO and SPAR have opened two new stores in the tourist cities of Vlora and Pogradec, being closer to consumers and helping employment in these cities.

Ingka Group supports more business action on climate change

Ingka Group has given support and signed up to a new guide raising the bar on climate leadership, ’Climate Leadership Now: The new bar for business action on climate change’, published by the We Mean Business coalition*.

Icon Outlet out-performs London post-lockdown

Icon Outlet has revealed its performance figures for the 12-week period post-lockdown, with sales increasing by 30% between the first week and the 12th. Sales have trended from approximately 65% of previous year like-for-like at reopening to around 95% like for like in weeks 11-12. Icon Outlet’s weekly footfall has also doubled since reopening and now stands at 75% of prior year footfall. The latter compares to an average footfall of 59% of pre-Covid levels for the average London High Street according to Springboard*.

Haute Dolci, the luxury dessert operator, to open in a prime location on Wembley Park Boulevard

Quintain has secured an “extraordinary and unforgettable” taste experience, set to open in a prime location in Wembley Park, London’s newest cultural neighbourhood. Haute Dolci, the luxury dessert operator, has signed to open in a 3,350 sq ft restaurant including a mezzanine, its first location in London.

MK Illumination offers more reasons to take photos this Christmas

The festive lighting and decoration solution provider a new range of photo points for the season.