IMMOFINANZ recorded stronggrowth in the number of visitors to its retail propertiesin 2018: More than 142millioncustomers visited the STOP SHOP retail parks and VIVO! shopping centerswith over 800,000 sqm of rentable space. That represents an increase of roughly20millionvisitors, or16.7%, over the previous year. On a like-for-like basis, i.e. after an adjustment for acquisitions, sales and completions, the number of visitors rose by 4.8% to approximately 128 million. The retailers operating in the IMMOFINANZretail parks and shopping centersgenerated ayear-on-year increase of nearly 5.0% in their gross sales revenues.
“These outstanding frequency and revenueindicators confirm the success of our customer-oriented brand policy for the retail sector. The142millionvisitors recorded in 2018represent nearly the total population of four of our core markets: Austria, Germany, Poland and the Czech Republic“, explained Dietmar Reindl, COO of IMMOFINANZ. “Based on average revenues per square meter, the retailers in our STOP SHOPs and VIVO!sgenerated solid retail revenues of approximately EUR 1.6 billion during the past year.“
This positive development is also reflected in IMMOFINANZ‘s like-for-like rental income from the retail business which, after an adjustment for acquisitions, sales and completions, rose by 4.1% in 2018.
“Our tenants value the standardisedand decentralisedshopping formats which we have developed for the STOP SHOP and VIVO! properties. These concepts stand for good value for money well as highqualityand recognition value – at locations in nine countries“, commented Gerald Grüll, Head of Asset Management Retail at IMMOFINANZ. The largest tenants in the retail sector include internationaltop brands like H&M, C&A, Deichmann, KiK, dm, Takko, JYSK, LPP, the Inditex Group, CCC, Pepco andNewYorker.
Strong brandsform the basis forfully rented new openingsand attractive acquisitions
Two fully rented IMMOFINANZ development projects – the STOP SHOP Pozarevacand the STOP SHOP in Vrsac in Serbia with roughly 15,500 sqmin total – opened in 2018. In November 2018, IMMOFINANZ also announced the acquisition of eight retail parks in Slovenia, Serbiaand Croatia,which are not yet included in thefrequency data for 2018. The STOP SHOP portfolio now covers 80 locations in nine countries that have roughly564,000sqm of rentable spaceand, with an occupancy rate of 98.8%, are fully rented. IMMOFINANZ‘s ten VIVO! shopping centershave nearly 304,000 sqmand,with an occupancy rate of 97.9%, are also fully rented.
TwoSTOP SHOP locations in Polandand Serbia are currently under development: The newretail parks in Siedlceand Sremska Mitrovica will have roughly18,000 sqmof rentable space.
The IMMOFINANZ retail properties
At the end of December 2018, theretail portfolio covered93properties in Austria, Czech Republic, Hungary, Slovakia, Romania, Poland, Serbia, Sloveniaand Croatiawith aportfolio value ofEUR 1.47 billion.Of this total,ten properties operate under the VIVO! shopping center brand and 80 as STOP SHOPs. The overall occupancy rate equals 98.2%.
The STOP SHOP retail parks offer a broad range of products with good value for money. With efficient transport connections as well as extensive parking, they concentrate on price-conscious “smart shoppers” who value easy accessibility. The VIVO! shopping centers stand for an uncomplicated shopping experience for the entire family as well as a balanced branch mix with numerous entertainment and recreational activities.
On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused on the retail and office segments of seven core markets in Europe: Austria, Germany, Czech Republic, Slovakia, Hungary, Romania and Poland. The core business covers the management and development of properties, whereby the STOP SHOP (retail), VIVO! (retail) and myhive (office) brands represent strong focal points that stand for quality and service. The real estate portfolio has a value of approx. EUR 4.3 billion and covers more than 220 properties. IMMOFINANZ is listed on the stock exchanges in Vienna (leading ATX index) and Warsaw. Further information under: http://www.immofinanz.com
