Coffee with Craig Show – daily CRE news covering the CEE region, Tuesday, July 4, with Winston Norman, Editor and Chief of EuropaProperty.com.
13 new brands have arrived in Czechia so far this year
According to Cushman & Wakefield, 13 new brands have arrived in the Czech retail market in the first six months of this year. Most of them are in the fashion segment (clothes and accessories – seven brands) and culinary concepts (F&B – three brands). The latter is set to dominate the new arrivals this year: at least six F&B brands should come to the country by the end of the year, and other brands already present will open new branches.
The world’s largest premium lingerie retailer, Victoria’s Secret is the biggest name among this year’s newcomers to date, having opened its first store in Prague’s Westfield Chodov shopping centre this May.
Jan Kotrbáček, Partner & Head of the CEE Retail Agency team, Cushman & Wakefield, commented: “The retail market is mostly about innovation and new ideas, quality products, and a strong story. For newly arriving, active and successful brands, these are the key drivers of their further growth and their ability to stay on the market in the long run.
Clifford Chance Advises G City Europe on Atrium Palac Pardubice Disposal
Clifford Chance has advised G City Europe – formerly Atrium European Real Estate – on its disposal of the Atrium Palac Pardubice shopping centre. The transaction is part of G City Europe’s ongoing strategy to divest non-core assets.
According to Clifford Chance, Atrium Palac Pardubice, a shopping centre located in Pardubice, the Czech Republic, and the adjacent land plot were sold for around 123.8 million. The high-end shopping mall nicknamed ‘the heart of Pardubice City’ is described as a vibrant shopping and entertainment hub, providing an array of amenities to visitors
Skyliner with green energy guarantees for another three years
Skyliner office building, owned by the Karimpol Group, has extended its contract which guarantees 100 percent of electricity from renewable energy sources until 2026. The supplier is the E.ON Group. Thanks to the new contract, Skyliner will be even more friendly to people and the environment in line with the building owners’ ambition. Electricity powering the Warsaw skyscraper will come entirely from onshore wind farms.
“Sustainability is embedded in the DNA of the E.ON Group. We continuously support our customers and give them the tools to enable their green transition,” said Mariola Kopcińska, Key Account Manager at E.ON Polska S.A.
“What is extremely important for the functioning of the office building, as well as for its tenants, is that the implemented solutions, including electricity from renewed energy sources, make the service charge one of the lowest among Warsaw’s A-class office buildings,” said Szymon Zduńczyk, Executive Director at Karimpol Polska.
S Immo issues €75 million of green bonds
S IMMO announced the successful pricing of €75 million of green bonds. The green bonds have a five-year term and carry a fixed coupon of 5.5 percent per annum. The transaction was managed by Erste Group.
The green bonds have a minimum denomination of €500 and are being marketed for subscription by private investors in Austria and Germany until 11 July 2023. The green bonds will be listed on the Official Market of the Vienna Stock Exchange in the corporate prime segment. Proceeds will be used to finance or refinance eligible green projects as defined in S IMMO AG’s sustainable bond framework.
S IMMO, commented: “The green bond issue is another step in S IMMO’s long track record of successful bond issues anchored primarily by investors from our region, who clearly appreciate the Company’s operational excellence and sustainability initiatives.”