Shopper Park Plus Plc. (SPP) owns 14 grocery-anchored retail parks in Hungary through its subsidiary, with Tesco as the leading anchor tenant. In recent months, SPP has focused on consolidating its portfolio, adapting its assets to better reflect current consumer preferences. As a result, the properties have been redesigned to accommodate new brand stores and to better serve customer needs. In line with investor expectations, the company has also prioritized cost optimization, beginning with a comprehensive review and restructuring of property management services to enhance operational efficiency.
On 28 July 2025, SPP signed a letter of intent with ESTON International Ltd., the Hungarian partner of Savills. ESTON International has been managing part of the portfolio since mid-2022, following the acquisition of the properties. Until now, SPP has worked with two separate property managers to ensure operational security, while focusing on store refurbishments, the implementation of ESG principles, and the overall consolidation of portfolio management. In 2025, SPP set out to further streamline operations with the aim of centralizing property management in a single hand — a move expected to generate substantial cost savings through improved economies of scale. Based on the signed letter of intent, from 1 January 2026, ESTON International will become the exclusive property manager of SPP’s retail park portfolio in Hungary for a period of three years. As a result, the portfolio of ESTON International will expand by 200,000 square metres, bringing its total managed assets to well over 600,000 square metres. This agreement, along with the related cost optimization and operational efficiency improvements, is expected to deliver significant savings compared to SPP’s preliminary 5-year strategic plan. According to the company’s projections, this could result in a reduction of leakage of between EUR 500,000 and EUR 600,000 in the 2026 fiscal year — contributing meaningfully to improved operational efficiency and long-term profitability for the group.
Following the launch of the Shopland brand in the Czech Republic, the second half of 2024 saw its entry into the Hungarian market as well. SPP’s ambition is to establish Shopland as a retail destination that stands for convenient, everyday shopping in refurbished retail parks. The aim is not only to offer easily accessible locations with hassle-free parking, but to provide a one-stop shopping experience where customers can find all the goods and services they need on a weekly basis. In addition to groceries, this includes drugstores, fashion, books, homeware, and a vibrant food court with cafés, restaurants and fast-food outlets.
SPP remains firmly committed to enhancing the cost-efficiency of the group’s operations and continuously seeks opportunities for optimization. As part of this effort, the company will evaluate the impact of its efficiency-enhancing measures at the end of 2025 and update its financial guidance for the coming years accordingly. The anticipated savings of over half a million euros in operational expenses not only demonstrate improved efficiency but also deliver tangible value for the company’s investors.
About Shopper Park Plus
SPP, which owns a portfolio of 22 retail properties — 4 in the Czech Republic, 4 in Slovakia, 14 in Hungary — through its subsidiaries, manages a total gross leasable area (GLA) of over 390,000 square metres, shared by nearly one thousand tenants. In the long term, SPP aims to become a leading owner and operator of retail park portfolios in the Central and Eastern European (CEE) region, with further regional expansion plans already under consideration.
About ESTON International
ESTON International is Hungary’s largest locally owned commercial real estate consultancy, the third most successful real estate company on the local market, and a trusted player in the Central and Eastern European region. By offering its clients personalized and complex real estate solutions, it helps them achieve their business and investment goals in the real estate market. ESTON International is committed to providing comprehensive services to its clients and aims to expand its services, offer innovative solutions, and build long-term business relationships. ESTON International provides a wide range of services to its clients, including real estate brokerage, real estate investment consulting, property management, valuation, real estate development, and project supervision. Their team of experts is active in several sectors, such as retail, office, and industrial real estate.