Corporate | 7 March 2013 12:02
IMMOFINANZ AG / Key word(s): Real Estate
07.03.2013 / 12:02
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IMMOFINANZ Group has acquired a new major tenant in the Hungarian retail
market with H&M and concluded two new long-term leases. This international
fashion chain will soon open outlets on approx. 3,000 sqm of usable space
in two Hungarian STOP.SHOP. retail parks. The leases cover two floors in
Budapest Obuda (1,650 sqm) and Erd (1,419 sqm), with the opening of both
H&M shops scheduled for this month. Further H&M branches in the Hungarian
STOP.SHOP. portfolio are planned by autumn 2014.
'In spite of the challenging market conditions in Hungary, we have been
very successful with new rentals - that speaks for the attractiveness of
the STOP.SHOP. retail concept and our professional asset management',
comments Eduard Zehetner, CEO of IMMOFINANZ Group. 'International retail
chains can depend on our expertise, reliability and IMMOFINANZ Group's
extensive network. The STOP.SHOP.s have been successful in the CEE region
for ten years. Our current goal is to further strengthen the brand: we
launched it in Austria during the past autumn and are now preparing further
expansion steps for Poland.'
14,000 sqm leased in the financial year 2012/13
In addition to the above-mentioned leases, IMMOFINANZ Group has rented
14,000 sqm of retail space in Hungary in the financial year 2012/13. The
tenants include national firms as well as well-known international
companies like Deichmann, DM and Fressnapf. Taking into account the two
forthcoming openings, the occupancy rate in the asset class retail in
Hungary will have reached almost 89%.
The STOP.SHOP. concept
The STOP.SHOP. retail concept was developed in 2002 and has since proven to
be very successful in Central Europe. These retail parks are convincing
with their uniform quality standards, practicality and high recognition
value. As the operator, IMMOFINANZ Group works steadily on the further
development and improvement of its STOP.SHOP.s, which are all located close
to large, well-known supermarkets. The locations are selected for their
close proximity to population centres that cover catchment areas of 30,000
to 150,000 residents. That gives tenants high, stable visitor frequency.
With an attractive and broad mix of retail outlets, STOP.SHOP. offers
customers an efficient and satisfying shopping experience.
12 STOP.SHOP.s in Hungary, 43 in Central Europe
In Hungary IMMOFINANZ Group is currently represented with 12 STOP.SHOP.
retail parks on 114,000 sqm of rentable space. The portfolio also includes
31 retail parks in five CEE countries: with nine in the Czech Republic, ten
in Slovakia, one in Poland, two in Slovenia and, since October 2012, nine
in Austria. Further expansion is planned for the coming years with a focus
on the Polish market.
On IMMOFINANZ Group
IMMOFINANZ Group is one of the leading listed property companies in Europe
and is included in the leading ATX index of the Vienna Stock Exchange.
Since its founding in 1990, the company has compiled a high-quality
property portfolio that now comprises more than 1,820 investment properties
with a carrying amount of approx. EUR 10.51 billion. As a 'real estate
machine' the company concentrates on linking its three core business areas:
the development of sustainable, specially designed prime properties in
premium locations, the professional management of these properties and
cycle-optimised sales. The company's goal is to generate greater
profitability along the entire value chain with a clearly defined,
standardised and industrialised process. IMMOFINANZ Group concentrates its
activities in the retail, office, logistics and residential segments of
eight regional core markets: Austria, Germany, Czech Republic, Slovakia,
Hungary, Romania, Poland and Russia. Further information under:
www.immofinanz.com
For additional information contact:
MEDIA INQUIRIES
Bettina Schragl
Head of Corporate Communications | Press Spokesperson
IMMOFINANZ Group
T +43 (0)1 88 090 2290
M +43(0)699 1685 7290
communications@immofinanz.com
INVESTOR RELATIONS
Stefan Schönauer
Head of Corporate Finance & Investor Relations
IMMOFINANZ Group
T +43 (0)1 88 090 2312
M +43 (0)699 1685 7312
investor@immofinanz.com
A-1100 Wien, Wienerbergstraße 11
www.immofinanz.com
End of Corporate News
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2291
Fax: +43 (0) 1 88090 - 8291
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Freiverkehr in Berlin, München, Stuttgart; Frankfurt in
Open Market ; Wien (Amtlicher Handel / Official Market)
End of News DGAP News-Service
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