Rodamco Europe and AM reach agreement on Czech shopping centre project

Rodamco Europe and AM have signed a contract to develop the Centrum Chodov regional shopping centre in Prague. Hand-over is planned for the second quarter of 2006, when Centrum Chodov will join Centrum Cerny Most in Rodamco Europe’s investment portfolio in the Czech Republic. The cost of developing the centre, which will provide around 57,000 m2 of retail, leisure and restaurant space, is estimated at €128 million and the gross annual rental income at €12 million.

Centrum Chodov will be built in the south-east of the city, in Prague’s 11th district, adjacent to the D1 Prague-Brno motorway and above a metro station. Centrum Chodov will eventually form the heart of this district. 40% of the shopping centre has already been let to anchor tenants such as Hypernova, Hennes & Mauritz, C&A, Nike and Bata. The concept was developed by T+T Design in Gouda, and interpreted by Helika s.a. design in Prague. The landscaping, involving the creation of a park-like environment in which the shopping centre is an organic element, is an integral part of the project.

Growth in European shopping centres
This project in the Czech Republic is consistent with AM’s strategy for further growth in shopping centre development, especially in Southern and Central Europe, where retail facilities are outdated and there is strong pent-up demand for modern shopping centres incorporating leisure facilities. Olympia Plzen, the first shopping centre developed by AM in the Czech Republic, opened in March.

Source: Rodamco Europe

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