Atrium European Real Estate has sold 5 retail assets to Metropol Group. This retail portfolio consists of the following assets: standalone Media Markt building in Gdynia, Atrium Olkusz, Atrium Swietochlowice, Atrium Siemianowice and Atrium Gama in Radom.
These convenience retail properties are established in the local environment and benefit from the vicinity of large and dynamically growing residential areas. Among tenants, there are well known international and national brands such as Bricomarche, OBI, Carrefour, Biedronka, RTV Euro AGD, CCC, Rossmann, Media Expert or Pepco. Properties have excellent visibility and enjoy easy access by the public and private transport. The total GLA of the properties is c.45,000m². The purchase price was not disclosed.
"First half of 2020 saw a few retail transactions being closed and as expected, the majority of these took place during the first quarter. However, there were still some retail closings after the coronavirus pandemic outbreak - and these were mainly convenience schemes, standalone, food-anchored objects, with a significant part of them having redevelopment potential – type of properties we have identified some time ago to be sought-after by the investors. Five assets sold by Atrium are well-established convenience schemes with great tenant mix and superb performance. As a result, they remained resilient to recent market turmoil, what was confirmed by the fact, that footfall returned to the average levels from the beginning of the year within just 2 weeks after shopping centres’ reopening after the lockdown. This transaction proves that investors are still interested in retail properties, provided that they meet certain characteristics, “ commented Piotr Lopusinski, Senior Consultant, Investment, Avison Young.