ECE opens first shopping center in the Czech Republic (CZ)

ECE has opened its first shopping gallery in the Czech Republic â€" the Galerie Vankovka. This light-flooded shopping complex and experience venue at the heart of the city centre of Brno with over 130 shops, cafes and restaurants was built within the space of just 13 months.

Sections of the factory halls that used to stand on the site have been integrated in the new building, forging a link with the history of the long-standing company. Galerie Vankovka is the 80th center of ECE, the European market leader for inner city shopping-centres. The new shopping magnet in Brno will create around 1,000 jobs. The investors in the 100 million euro project are HGA Capital, a company in the HSH Nordbank Group, and the ECE Group. ECE is responsible for general planning, leasing and long-term management.

Short routes to the shopping center
The Galerie Vankovka is on a prime site between the central railway station and the main bus terminal, ideally located for convenient access by public transport. The shopping center is also easy to reach by car. It is situated on the inner city ringroad and provides around 1,000 parking spaces. "The new shops and additional parking facilities boost the attractions of Brno city centre. I am convinced that even more people from the surrounding region will now come here to shop, and this will strengthen the city centre retail trade", says Josef Tobek, Managing Director of ECE Projektmanagement Praha s.r.o. The catchment area of the Galerie Vankovka comprises a population of around 1 million.

All shop premises leased
With a total sales area of around 37,000 square metres including auxiliary areas, the Galerie Vankovka houses an attractive branch mix over two levels comprising international chain outlets and local shops. Retailers are convinced the project is in the ideal location: 99 percent of the retail premises were already leased a full six months ago. The anchors are a Spar supermarket, the Peek & Cloppenburg and C&A fashion stores, a Hervis sports outlet and a Datart consumer electronics market.

HGA Capital Grundbesitz und Anlage GmbH and the ECE Group invested around 100 million euros / approx. 3 billion koruna in the project.

HGA Capital is an initiator of closed-end real estate funds and belongs to the HSH Nordbank Group. HGA Capital offers funds focusing on commercial properties such as office buildings, business centres, administration buildings, shopping centers, residential properties and hotels. These properties are located in Germany, the USA, Hungary, the Czech Republic, Austria and the UK. The closed-end real estate funds issued by HGA Capital are mainly marketed through selected banks and savings banks.

ECE Projektmanagement Praha s.r.o. is responsible for project development, general planning, leasing and long-term management.

Source: ECE

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