Corporate | 30 June 2016 11:21
DGAP-News: IMMOFINANZ AG / Key word(s): Real Estate/Expansion
2016-06-30 / 11:21
The issuer is solely responsible for the content of this announcement.
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IMMOFINANZ is continuing the expansion of its STOP SHOP retail park chain
at a fast pace: the 57th location was opened today in the Polish city of
Szczytno. After Niš in Serbia and Świnoujście in Poland, this represents
the third project completion in two months - and the next locations have
already been identified: a STOP SHOP will open in the Serbian city of
Valjevo during early autumn, and in Poland preparations are underway for
retail parks in Pultusk and Gdynia. These projects will raise the total
number of STOP SHOPs to 60.
"We are focusing on rapid expansion in Central and Eastern Europe with our
STOP SHOP brand and will continue to offer our retail customers broad
market coverage in numerous countries. Our plans call for a doubling of the
STOP SHOP portfolio over roughly five years to more than 100 locations,
which will make us the leading retail park operator in the region",
indicated Oliver Schumy, CEO of IMMOFINANZ.
The STOP SHOP Szczytno is the sixth location in Poland. It has approx.
3,600 sqm of rentable space and is fully rented - similar to the STOP SHOP
Świnoujście (3,600 sqm) and the STOP SHOP Niš (13,000 sqm). The tenants
include Media Expert, the Deichmann and CCC shoe stores, KIK, Martes Sport
and Rossmann. Five further locations are currently under evaluation or in
preparation in Poland - including Pultusk and Gdynia. The individual
projects are in different stages, but should be completed before the end of
2017. In Serbia, the third STOP SHOP after Čačak und Niš will soon open in
Valjevo.
The concept of the STOP SHOP brand is based on regional shopping centers in
central locations with catchment areas of 30,000 to roughly 150,000
residents. The retail parks have 3,000 to 15,000 sqm of rentable space and
offer visitors extensive parking, optimal transportation connections and
high functionality through an attractive mix of international and national
tenants.
Details on the STOP SHOP portfolio
Together with the latest openings, IMMOFINANZ's STOP SHOP portfolio covers
57 retail parks in seven countries: Hungary (12 STOP SHOPs), Austria (11
STOP SHOPs), Slovakia (10 STOP SHOPs), Czech Republic (10 STOP SHOPs),
Poland (6 STOP SHOPs), Slovenia (6 STOP SHOPs) and Serbia (2 STOP SHOPs).
The STOP SHOP / Retail Park Segment had a book value of approx. EUR 485
million based on data as of 31 January 2016 (54 properties). The occupancy
rate equals 96.2% and the gross rental return 7.8%.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate company whose activities are focused
on the retail and office segments of eight core markets in Europe: Austria,
Germany, Czech Republic, Slovakia, Hungary, Romania, Poland and Moscow. The
core business includes the management and development of properties. The
company has a real estate portfolio of approx. EUR 5.8 billion that covers
more than 380 properties. IMMOFINANZ is listed on the stock exchanges in
Vienna (leading ATX index) and Warsaw. Further information under:
http://www.immofinanz.com
For additional information contact:
Bettina Schragl
Head of Corporate Communications and Investor Relations
T +43 (0)1 88 090 2290
M +43 (0)699 1685 7290
communications@immofinanz.com
investor@immofinanz.com
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2016-06-30 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 11
1100 Wien
Austria
Phone: +43 (0) 1 88090 - 2290
Fax: +43 (0) 1 88090 - 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000809058
WKN: 911064
Listed: Regulated Unofficial Market in Berlin, Munich, Stuttgart;
Open Market in Frankfurt ; Warschau, Wien (Amtlicher
Handel / Official Market)
End of News DGAP News Service