EQS-News: IMMOFINANZ AG: IMMOFINANZ expands successful presence in Croatia with its European retail park brand STOP SHOP

EQS-News: IMMOFINANZ AG / Key word(s): Real Estate/Expansion
IMMOFINANZ AG: IMMOFINANZ expands successful presence in Croatia with
its European retail park brand STOP SHOP

22.12.2021 / 09:29
The issuer is solely responsible for the content of this announcement.

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IMMOFINANZ expands successful presence in Croatia with its European retail
park brand STOP SHOP

– Expansion of long-standing presence on the attractive Croatian market

– Focus on medium-sized cities to organize basic local supplies

– Market analyses confirm demand for more than 20 additional STOP SHOP
locations in this country

– Investment volume of approximately EUR 250 million for development
projects over the next five years, construction has already started

– STOP SHOP combines practical, affordable basic supplies with a pleasant
shopping experience that includes cafés, play areas and free WLAN

IMMOFINANZ is following its market entry in Italy with the expansion of
its successful STOP SHOP retail park brand across the Adriatic region in
line with the corporate strategy. In Croatia, plans call for an increase
in the number of STOP SHOPs from the current level of four to more than 20
locations over the medium-term. The completion of a newly developed STOP
SHOP and the expansion of an existing location are scheduled for the first
half of 2022. Detailed market and location analyses indicated high demand
by the Croatian population for decentralised, local supplies. This
conclusion led to a decision by IMMOFINANZ to secure 22 sites in
medium-sized Croatian cities for the development of STOP SHOP retail
parks. The purchase price for these sites totals approximately EUR 80
million.

„Croatia is a promising market with a strong return to economic growth as
well as rising disposable income and consumer confidence. We have held
investments in this country for many years, including market entry with
our STOP SHOPs in 2018. The feedback from local communities and our
tenants has been very favourable. Many of our international retail tenants
want to expand in Croatia – and our STOP SHOP format is ideally suited for
this growth due to the size of the cities and demand by the population for
affordable supplies in a pleasant shopping atmosphere“, explained Dietmar
Reindl, COO of IMMOFINANZ, on the company’s strategy.

Strong demand for retail parks by tenants and customers

IMMOFINANZ has relied on the cost-efficient and crisis-resistant retail
park asset class with its sound returns for many years and recognised the
potential of these investments early on. „We evaluate new locations very
closely and take advantage of available market capacity. Besides, the
COVID pandemic has again made it clear that retail parks with everyday
convenience items, very good traffic connections and a diverse tenant mix
are the clear winner and in strong demand by tenants as well as
customers“, added Reindl.

The STOP SHOP portfolio in Croatia will increase from the current level of
four to more than 20 locations over the next three to five years. The
investment volume for the new locations will total approximately EUR 250.0
million. The new sites were purchased through the local development
experts at ENS and have a total area of more than 730,000 sqm. The retail
parks that will be built on these sites have more than 190,000 sqm of
rentable space.

High ESG standards

Construction as well as operations will be based on high ESG standards:
Photovoltaic equipment – 150,000 sqm in total – will be installed at all
locations and massively increase the own production of renewable energies
in accordance with IMMOFINANZ’s new Net Zero Emission Strategy. Extensive
charging stations for electric vehicles will also be included to support
electro-mobility in these regions. The design of the green areas
surrounding the retail parks will focus on biodiversity and also reflect
current pilot projects by IMMOFINANZ for the utilisation of service water
and the creation of urban forests. The STOP SHOPs will be built with local
Croatian firms, and these new retail properties will create up to 5,000
jobs over the medium-term.

At the end of September 2021, the four Croatian STOP SHOPs in Valpovo,
Osijek, Ludbreg and Nasice with a combined total of nearly 21,000 sqm were
fully rented. The retail park in Ludbreg is currently being expanded by
roughly 3,000 sqm, and this space – as well as the new retail park in
Kastela with 7,000 sqm – are scheduled to open in the first half of 2022.

Details on the STOP SHOP portfolio

STOP SHOP is IMMOFINANZ’s European retail park brand. The STOP SHOPs
likeable and convenient local suppliers are located in catchment areas of
roughly 30,000 to 150,000 residents und offer a broad range of everyday
products with good value for money. With efficient transport connections
and extensive parking, these retail parks concentrate on price-conscious
„smart shoppers“ who value easy accessibility. The STOP SHOPs currently in
the portfolio had an occupancy rate of 99.0% and a return of 8.1% based on
invoice rents as of 30 September 2021.

IMMOFINANZ’s STOP SHOP portfolio includes 99 retail parks (standing
investments) with approximately 750,000 sqm of retail space in ten
countries: Slovakia (16 STOP SHOPs), Slovenia (14), Hungary (14), Serbia
(14), Austria (13), Czech Republic (12), Poland (10), Croatia (4), Italy
(1) and Romania (1).

On IMMOFINANZ
IMMOFINANZ is a commercial real estate group whose activities are focused
on the office and retail segments of eight core markets in Europe:
Austria, Germany, Poland, Czech Republic, Slovakia, Hungary, Romania and
the Adriatic region. 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
5.0 billion and covers roughly 210 properties. IMMOFINANZ is listed on the
stock exchanges in Vienna (leading ATX index) and Warsaw. Further
information under: [1]https://www.immofinanz.com

Für 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
[2]communications@immofinanz.com
[3]investor@immofinanz.com

IMMOFINANZ
1100 Vienna, Wienerbergstrasse 9, Austria
www.immofinanz.com

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22.12.2021 This Corporate News was distributed by EQS Group AG.
www.eqs.com

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Language: English
Company: IMMOFINANZ AG
Wienerbergstraße 9
1100 Vienna
Austria
Phone: +43 (0) 1 88090 – 2290
Fax: +43 (0) 1 88090 – 8290
E-mail: investor@immofinanz.com
Internet: http://www.immofinanz.com
ISIN: AT0000A21KS2
WKN: A2JN9W
Listed: Regulated Unofficial Market in Berlin, Frankfurt, Munich,
Stuttgart; Warschau, Vienna Stock Exchange (Official Market)
EQS News ID: 1260931

 
End of News EQS News Service

1260931  22.12.2021 

References

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2. communications@immofinanz.com
3. investor@immofinanz.com

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