Capitol Park Croatia portfolio to gain ten more locations by 2020
Following the successful expansion of its retail real estate portfolio in Serbia this year, the UK-based property investor, developer and asset manager Poseidon Group has continued to strengthen its Capitol Park network in SE Europeand will open ten new locations by 2020 in Croatia.
Poseidon will manage 10 locations in Zadar, Kutina, Slavonski Brod, Požega, Križevci, Jastrebarsko, Ivanić Grad, Krk, Sisak and Makarska. The strategy will create rebranded shopping destinations with a more diversified tenant mix while preserving the existing workforce at the locations renamed as Capitol Park retail parks. New tenants will include international brands and new market entrants to Croatia that will diversify choice, stimulate the local economy and create more jobs for Croatian citizens across the country.
Opening in autumn/winter 2019
Capitol Park Kutina will see the reconstruction of the Konzum building near the city centre to become a new shopping destination for the more than 13,000 residents of Kutina. The 2,500 sqm building will welcome four international brands creating a new destination for shopping in the city, as well as new jobs for local residents.
Capitol Park Križevci will introduce a completely new tenant mix across 4,100 sqm to the city of Križevci. The existing Konzum will be replaced with a new anchor tenant, while the remainder of the building will be extended to welcome new tenants. Capitol Park will host many internationally known retailers in food, textile, cosmetics and other sectors. The more than 20,000 citizens of Križevci and its surrounding municipalities will find a new shopping destination and 50 new jobs thus boosting the local economy.
Capitol Park Požega will bring a new food retailer that will replace the existing Konzum, as well as new tenants from the non-food sector on a total of 4,200 sqm. This shopping complex will bring a fresh shopping experience and new jobs to the city of Požega attracting more than 26,000 shoppers.
Capitol Park Zadar’s tenant mix will include food retailers, home décor, electronics, fashion, and other industries on a total of 6,400 sqm. Its central location in the city will ensure that this shopping centre becomes a new centre for leisure and shopping for more than 75,000 locals and tourists that visit Zadar.
Capitol Park Jastrebarsko will be a practical 3,000 sqm retail destination for grocery and home décor shopping. Located on the city fringe, this retail complex will be used by 6,000 local residents and 11,000 more from nearby municipalities.
Capitol Park Ivanić Grad is a 5,000 sqm retail destination with four tenants from the food, fashion and home décor segments. The complex is located near the main roads leading to the city centre convenient for the 10,000 consumers living in the area.
Capitol Park Krk is a 4,850 sqm complex with a tourist and local-friendly tenant mix including food retail, pharmacy and fashion. It is located at the main entrance to the city.
Capitol Park Sisak offers a 4,200 sqm facility with food and cosmetics retailers serving its 45,000 local residents.
In spring 2020
Capitol Park Makarska will be a large retail complex of 14,200 sqm offering a diversified tenant mix including food, fashion, home décor and may other retailers. Located at the edge of city centre, this retail park will provide a modern shopping experience.
Poseidon Group Corporate Affairs director James Gunn emphasised the importance of Capitol Park network expansion throughout Croatia: “Under our Capitol Park brand, Poseidon Group is a recognised high-quality regional retail leader that helps our tenants obtain stable profits in the competitive Croatian retail landscape, more jobs for local communities, improved consumer choice, and of course higher investor returns. We are happy to continue our growth in Croatia and build new possibilities in the retail sector through 2019 and 2020.”
Details on the brands entering Capitol Parks in Croatia and precise opening dates will be announced soon.