Trei Real Estate GmbH (Trei), a developer and asset holder for residential and retail real estate, just opened the tenth retail park of its Vendo Park brand in the Czech Republic and Slovakia. The asset is located in the small town of Mnichovo Hradiště, which lies around one hour’s drive north-east of Prague. The total investment costs equal 2.6 million euros. The company plans to keep the asset in its portfolio long-term. Since the start of construction in August 2019, the property has been let in its entirety. Despite the limitations caused by the Coronavirus pandemic, it opened on schedule.
The retail park provides space for the established retailers Planeo (consumer electronics), dm (drugstore), Super Zoo (pet supplies) and Pepco (non-food, decoration, furniture, textiles). The new Vendo Park is located directly next to a Penny supermarket that is already part of Trei’s portfolio. Together, the two retail properties comprise a lettable area of 3,300 square metres, with the Vendo Park accounting for 1,800 and Penny-Markt accounting for 1,500 square metres thereof. The amount that Trei invested in both assets totalled 4.1 million euros.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “We are glad that the dedication and commitment of our staff made it possible to open this latest Vendo Park on schedule despite the coronavirus-related restrictions. The crisis shows that retail concepts like Vendo Park contribute in important ways to provide local amenities to the population.”
Nadežda Ptácková, Managing Director for Development / Construction / Project Management at Trei Real Estate Czech Republic, added: “Opening the tenth Vendo Park in the twin region of Czech Republic and Slovakia marks an important milestone for us. We remain open to interesting investments in either country, and will naturally examine opportunities that present themselves.”
In addition to the property in Mnichovo Hradiště, Trei’s portfolio includes another five Vendo Parks in the Czech Republic. These assets are located in the towns of Jablonec nad Nisou, Kyjov, Mohelnice, Roudnice nad Labem and Vlašim. Another four assets are located in Slovakia, namely in the towns of Stará Ľubovňa, Bánovce nad Bebravou, Galanta and Zlaté Moravce. Aside from Poland, Trei uses the Vendo Park brand to plan, develop and manage retail parks in the Czech Republic and in Slovakia. Trei owns 26 Vendo Parks at the moment.
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