Campona sale 'rings the tills'.
4 Dec, 2007, Brussels
Global real-estate consultant Cushman & Wakefield (C&W), acting on behalf of Compagnie Immobilière de Belgique, has concluded thesale of the company owning Campona Shopping Center, Budapest. A price of €110 million was achieved, the purchaser being ING Property Fund Central and Eastern Europe.
Campona Shopping Center opened in September 1999 and is the dominant center serving South Buda. Arranged over 40,000 sqm the center comprises some 145 shop units, an 11 screen multiplex cinema, and unique Tropicarium / Oceanarium. Tenants include ElectroWorld, C&A, H&M, Hervis, Douglas, Promod and Lush. A Tesco hypermarket is integrated within the center, albeit in separate ownership.
Philippe Hurt, Partner at C&W in Brusselscommented “This sale sets a benchmark level for the Hungarian market. Campona provides significant opportunities for enhancement over the coming years through proactive asset management and I would expect this property to deliver strong performance in the future.”
C&W were appointed exclusive selling agent for Compagnie Immobilière de Belgique and have been the leasing agents at Campona since commencement of the development.