The Czech real estate fund Trigea, which specializes in investments into commercial properties with attractive yields, has purchased two retail parks in Moravia from an international fund: Nákupní park Haná Olomouc and Retail Park Ostrava. Both properties are located in established retail zones with high tenant stability and long-term leases. CBRE, the world leader in commercial real estate services, has been managing both parks since 2013 and has extended most of their lease agreements in recent months. It thereby brought the parks’ occupancy to 100% and subsequently found buyers for the owners. This, the fifth transaction that CBRE has mediated this year, is another positive sign of a revival of the Czech real estate market, where there is an abundance of free capital but few suitable and high-quality investment products.
"Both parks are established in their catchment areas and have not lost their popularity during the pandemic. Customers like an attractive mix of brands, the possibility of comfortable outdoor parking and direct access to shops,” commented Vítězslav Doležal, Director in the Investment Properties team at CBRE, adding: “Nákupní park Haná Olomouc will strengthen its position even further, because it plans to open the popular Lidl grocery store chain here in the second quarter of next year, which will allow the new owner to continue working with the offer of brands.”
“The strategy of the Trigea property fund is to build a diversified portfolio of quality real estate that will ensure an above-standard attractive return for investors. This year we want to deliver our investors a return of around 6%. The new acquisition of two wonderfully-performing retail parks will certainly contribute to this,” stated Tomáš Trčka, Managing Partner of the Trigea real estate fund.
"The retail parks were already popular before the pandemic due to the number of expansion opportunities. During the pandemic and related measures, this trend has become even stronger and retail parks have become an established part of the retail chain portfolio,"
Nákupní park Haná Olomouc has a leasable area of 19,200 m2. About 70% of the area is occupied by furniture and housewares, specifically leading brands such as Möbelix, Siko, OKAY furniture, BRENO carpets and Jysk. Another 14% is comprised of electronics (Electro World) and from next year the Lidl grocery store chain (9%). Brands from the area of fashions (33%), from the furniture and housewares sector (32%) and vendors of sports equipment (16%) are represented in Retail Park Ostrava with a total leasable area of 10,300 m2. In the park you will find popular brands such as Sportisimo, Decathlon, DM drugstore, Sinsay and Super zoo. Both parks are easily accessible by transport and offer a large number of free parking spaces.