A new retail park under construction in Ostrava

29 Mar, 2011, Prague

Ostrava Retail Point is one of the few retail parks to be built in the Czech Republic this year. Overall, developers announced their plans to build between 8 and 10 retail parks totalling approximately 50,000 sq m for this year. Ostrava Retail Point will have an area of approximately 10,700 sq m and the construction of the first 7,700 sq m has started. The developer, Discovery Group in cooperation with 3C REIM, is preparing to open the retail park in the third quarter of this year.

“How many parks will be actually built this year is being determined these days. Projects whose construction starts in April stand a chance of completion this year. Aside from the weather, the demand among retailers for the lease of units is a major factor influencing the start of construction. At this point, 70% of Retail Point’s first 7,700 sq m are currently leased,” says Jiří Kristek, Head of the Retail Park Lease team, Cushman & Wakefield.

Cushman & Wakefield was entrusted with the lease of the project.

Ostrava Retail Point is located in Ostrava-Trebovice near a Tesco shopping gallery and hypermarket. It will add between 16 and 19 new outlets to the shopping zone, including gardening equipment, appliances (Okay), carpets (Breno), a chemist (Rossmann), a pet shop, discounted clothes, toys, home improvement, show rooms etc.

“We are striving to create a symbiosis between the existing shopping centre and the new retail park. The shopping centre offers mostly fashion and impulse goods, which the retail park will suitably complement with goods whose purchase people usually plan in advance. We want to bring brands that will broaden the range on offer throughout Poruba to the Retail Point,” says Jiri Kristek.

“The main criterion for the lease of Ostrava Retail Point is quality, which is why we place so much emphasis on optimal tenant mix. It was also one of the reasons why the construction was postponed until this year. The construction work started successfully in January and the foundation has been completed. The work on the upper structure is in progress now, and reinforced concrete structures are being erected,” says Jana Dombaiova, Discovery Group’s project manager.

“We are happy with the lease of the premises to date; for the remaining vacant units, we would like to add a sports shop and studios focusing on interior design and household equipment such as kitchens, bathrooms and tiles, interior decoration, wallpapers, fixtures and so forth,” adds C&W’s Jiri Kristek.

The developer is now preparing the construction of the next 3,000 sq m. Its launch depends on the demand among operators for the lease of units and the initial plans expect them to open at the beginning of next year.

There are four retail parks in Ostrava with a total area of approximately 37,000 sq m (excluding hypermarkets, DIY shops and furniture shops). These are Avion Ostrava, Futurum, Ostrava Karolína (developed by Intercora) and Sallerova výstavba.

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