DBK has acquired a majority share in Europark – Sterboholy, a well-established shopping centre, strategically situated in a dynamic, densely populated residential district in the eastern part of Prague. The purchase price was not disclosed.
Europark is located next to the Prague inner city ring road benefiting from excellent visibility and a well-balanced tenant mix with more than 60 brands. Besides its hypermarket anchor, Albert, and DIY store, OBI, Europark’s key occupiers include Hervis, H&M, Notino, Takko Fashion, Neoluxor Books, C&A, CCC, Humanic and DM drogerie. In the longer term, the City has planned further public transportation improvements including a tram line extension as a response to the growing number of residents in the area.
“Europark has various mid-term income enhancement opportunities ranging from unit reconfiguration to the “right-sizing” of Albert’s unit. In addition, the centre has the potential to offer future development opportunity, which shall address the needs of current and future inhabitants of the surrounding residential districts as well as customers from a more distant catchment area,” said Hana Kollmannova, Director at JLL Czech Republic and sell-side advisor in the Europark transaction.
