Unibail-Rodamco S.A. has opened today the extension of the Aupark shopping center in Bratislava, Slovakia. The purchase price of Unibail-Rodamco's 50% share is approximately €31 million and reflects a net initial yield of 7%.
The extension of Aupark, a development project of HB Reavis Group, consists of 15,000 m² GLA and further strengthens the dominant position of Aupark as the prime regional shopping center in Slovakia. After the extension, the center will consist of 58,300 m² GLA and includes anchor tenants such as Zara, Hennes & Mauritz, C&A, Peek and Cloppenburg, Bershka, Douglas and Pull & Bear.
The extension is acquired let turn-key by Unibail-Rodamco. After the legal transfer of the extension part as per October 1, 2007, Unibail-Rodamco will own 50% of the enlarged Aupark shopping center. HB Reavis Group is owner of the other 50% of the very successful Aupark shopping and entertainment center.