Tous Actualités
Suivre
Abonner Atrium European Real Estate Limited

Atrium European Real Estate Limited

euro adhoc: Atrium European Real Estate Limited
other
ATRIUM COMPLETES FIRST PHASE OF NEW EXTENSION AT MILITARI SHOPPING CENTRE IN ROMANIA

  Disclosure announcement transmitted by euro adhoc. The issuer is responsible
  for the content of this announcement.
12.12.2008
For Immediate Release
ATRIUM COMPLETES FIRST PHASE OF NEW EXTENSION AT MILITARI SHOPPING 
CENTRE
-Auchan hypermarket opens in Bucharest four months ahead of schedule-
Jersey, 12 December, 2008: Atrium European Real Estate Limited 
("Atrium") (ATX: ATR), one of the leading real estate companies 
focused on shopping centre investment, management and development in 
Central and Eastern Europe, announces today that it has completed the
first part of a new extension to its Militari shopping centre in 
Bucharest, Romania, four months ahead of schedule with Auchan taking 
delivery of a 14,000 sqm hypermarket. C&A and Decathlon are amongst 
the tenants already signed up for the second part of the extension 
which is due for completion in April 2009.
Atrium commenced the current extension programme in 2007, which will 
see the remaining 155,000 sqm of land at the site developed, adding 
an extra 40,000 sqm of GLA to the centre, bringing the total to 
50,000 sqm. The current development phase is significantly ahead of 
schedule, and has resulted in the first part of the development being
handed over to Auchan four months early. Auchan, a global hypermarket
operator with over 1,170 stores in 12 countries, has taken a 15 year 
lease on the 14,500 sqm hypermarket, which opened yesterday, and 
1,500 sqm of office space above the store.
The development programme at Militari aims to attract international 
quality tenants, leveraging off the existing presence of high profile
retailers and drawing in significant footfall from a local population
with twice the national average spending power. The remaining 24,000 
sqm, which is due for completion in April 2009, is already 93% 
pre-let to around 60 tenants including Hervis, Humanic, Takko, 
Deichmann and Media Galaxy, as well as several international 
retailers, such as C&A and Decathlon, who have chosen Atrium for 
their first entry into the Romanian market.
Militari is Atrium's first shopping centre in Romania and is located 
in a densely populated area of western Bucharest, very near a 
motorway junction and well served by public transport (bus and 
subway). The first phase of the centre opened in 2004, consisting of 
two units let to international DIY chain, Praktiker and leading 
national electronics retailer, Domo. Following an extension to the 
Praktiker building in 2007 they now have a combined Gross Lettable 
Area ("GLA") of 10,790 sqm.
Rachel Lavine, CEO of Atrium, commented: "This project is an 
excellent example of our ability to maximise the value of our assets 
through careful planning of asset management with prudent management 
of risk. The phased development process has meant that we have been 
able to continually evaluate the needs of both tenants and consumers 
and match their requirements. This is reflected in the high quality 
tenant mix, including a number of international tenants entering the 
Romanian market for the first time, as well as the 93% occupancy 
levels for the planned opening of the final phase in April next year.
"We are delighted that both C&A and Decathlon have chosen Atrium as 
their landlord for their first retail outlets in Romania. It 
underlines our belief that in the current climate, international 
retailers will not only look for well located centres with a good 
catchment area, but will also look to well financed landlords like 
ourselves, who are able to deliver quality products. We continue to 
believe that supermarket anchored shopping centres are the most 
resilient retail format for the current market, as shown by our three
recent openings in Poland and Slovakia, which since opening have 
continued to perform above expectations during the key Christmas 
period."
For further information:
Financial Dynamics:                                +44 (0)20 7831 
3113 Richard Sunderland Laurence Jones  Richard.sunderland@fd.com
end of announcement                               euro adhoc

Further inquiry note:

Financial Dynamics, London
Stephanie Highett / Richard Sunderland
Phone: +44 (0)20 7831 3113
mailto:richard.sunderland@fd.com

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

Plus de actualités: Atrium European Real Estate Limited
Plus de actualités: Atrium European Real Estate Limited
  • 10.12.2008 – 08:58

    euro adhoc: Atrium European Real Estate Limited / Buybacks / Form announcement

    Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. 10.12.2008 Atrium European Real Estate Limited ("Atrium" or the "Company") Form announcement Jersey, 10 December 2008. Atrium European Real Estate (ATX: ATR), one of the leading real estate companies focused on shopping ...

  • 04.12.2008 – 10:03

    euro adhoc: Atrium European Real Estate Limited / other / FORM ANNOUNCEMENT

    Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement. 04.12.2008 FORM ANNOUNCEMENT 4 December 2008 Atrium European Real Estate Limited (the "Company") announces that, further to the announcement it made on 17, November 2008 regarding authorization for the repurchase of up to EUR75 million nominal ...