Atrium European Real Estate Limited

EANS-Adhoc: Atrium European Real Estate Limited

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- Militari shopping centre opens 99% let following 40,600 sqm GLA extension -

Jersey, 2 April, 2009: Atrium European Real  Estate  Limited   ("Atrium"  or  the "Company") (ATX: ATR), one of the  leading  real   estate  companies  focused  on shopping centre investment, management and development in  Central  and  Eastern Europe, announces that it has completed the extension  of  'Militari  Shopping', its first shopping centre in Romania, which opens today.

The  original  centre  opened  in  2004  and  consisted  of  two   units  let  to international DIY chain, Praktiker, and leading national  electronics  retailer, Domo.  The two phased extension to the Bucharest based centre commenced in  2007 and, upon completion today, has increased the centre's gross  lettable  area  by 40,600 sqm to a total of 51,400 sqm.

In December 2008, Atrium announced that phase I of the extension, a   14,770  sqm hypermarket (and 1,400 of offices) let to Auchan on a 15 year lease, had  opened ahead of schedule.  On completion of phase II, Militari Shopping is 99%  let  to 63 domestic and international tenants  with  an  average  lease  length  of  8.7 years.  The  fact that  Decathlon,  C&A  and  Mladinska  have  chosen  Militari Shopping as the location for their first stores in Romania and that   it  is  New Yorker's (one of Europe's largest fashion businesses) first shop  in  Bucharest, underlines both the quality of the centre itself and  also  ongoing  willingness of international brands to enter new markets, providing  the  right  product  is available.

The extension comprises four main  parts;  a  stand  alone  building leased  to Decathlon, an Auchan Hypermarket, a retail strip which includes brands  such  as Takko, Deichmann, Hervis and well known Romanian fashion retailer, Tina R and a mall gallery, which is home to tenants such as Humanic, Media  Galaxy,  Toyplex, Adidas, Arsis Vodafone and Kenvelo.

Militari is Atrium's first shopping centre  in  Romania.  It  is   located  in  a densely populated  area  of  western  Bucharest,  very near  the  E81  motorway junction, has 2200 car parking spaces and is well  served  by  public transport(bus and subway).

Rachel  Lavine,  CEO  of  Atrium,  commented:    "Despite  the   difficult  market conditions we take great pleasure in the fact that we are able to open  Militari Shopping today almost 100% let.  It is all the more encouraging that the  centre is home to such a wide variety of well known  tenants,  including  international blue-chip brands, some of whom have chosen Militari Shopping as  their   entrance point into the Romanian market.  This underlines both  the   quality  of  product which Atrium brings to the market and the ongoing willingness  of  international operators to enter new markets, providing they have access to the right  product and the right partner to work with."

Further  information  is    available    on    the    shopping    centre's website:

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ots Originaltext: Atrium European Real Estate Limited
Im Internet recherchierbar:

Further inquiry note:
Financial Dynamics: +44 (0)20 7831 3113
Richard Sunderland
Laurence Jones

Branche: Real Estate
ISIN:      AT0000660659
WKN:        066065
Index:    Standard Market Continous
Börsen:  Wiener Börse AG / official market

Weitere Meldungen: Atrium European Real Estate Limited

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