More efficient
heating and cooling systems
energy saving target
Timeless regional retail property portfolio, above-inflation growth potential, stable euro-based dividend
Above-average growth potential and robust cash flow – SHOPPER PARK PLUS Plc. (SPP), owning a portfolio of 18 retail properties in the Central and Eastern European region, directly and through its subsidiaries, aims to be the largest retail park owner and operator in the region. The company’s current portfolio consists of 4 properties in the Czech Republic and 14 in Hungary with a total gross lettable area of more than 320,000 sq m shared by almost 600 retail units.
The retail units in this real estate portfolio meet basic consumer needs for which demand is predictable in both boom and bust economic environments. This gives significant immunity against the cyclical effects to the company, while providing SPP with a stable dividend paying capacity.
In the longer term, Adventum, with its considerable experience in the region’s commercial real estate market, aims to make SPP the largest retail park portfolio owner and operator in the Central and Eastern European region. The group’s investment funds own more than 700,000 square metres of office and commercial real estate in the region, with more than €1 billion worth of managed assets.
The members of the SHOPPER PARK PLUS (SPP) management team gained most of their professional experience in the commercial real estate market, complemented by experience in corporate finance, venture capital and capital markets.
Although their local knowledge is mainly in the private sector and geographically in the Central and Eastern European region, many of them have also worked in an international environment.
The founder of GRW Invest Ltd. holds a degree in economics from the Budapest University of Economics and Public Administration and a CFA qualification. During his professional career of over one and a half decades, he has gained considerable experience in both the real estate sector and the venture capital market. In 2022, he was listed among the Portfolió TOP 50 real estate market players for the second time.
Michele holds a Master of Science in Real Estate Investment from the Bayes Business School in London and a Diploma in ESG from the Corporate Governance Institute. She is an experienced professional; with over 25 years in the fields of development banking and commercial real estate finance with extensive knowledge of the CEE markets. She has held senior roles at the EuropeanBank for Reconstruction and Development, including for the Property & Tourism team. Michele has also served as Non-Executive Board Member and Limited Partner Advisory Committee member for various companies and investment funds in emerging markets.
He earned a degree in economics from the Budapest University of Economics and Public Administration and holds a CFA qualification. He gained over 20 years of experience in the Central and Eastern European real estate market at international fund managers and listed real estate companies such as GLL Real Estate, CBRE Global Investors, CPI Property Group. He joined Adventum Group in 2018 as a regional Transaction and Business Development Partner.
He has been a Chief Economist at Portfolion Venture Capital Fund Management since 2014. He graduated from Yeshiva University in New York and CEU. He worked at MNB and Kürt Ltd., and then in the US at McLean Capital LLC. Since 2010 he has held various positions at Portfolion and Day One Capital. Since 2014 he has been a Board Member of the Hungarian Venture Capital and Private Equity Association (HVCA).
He holds a degree in economics and an MBA from the Budapest University of Economics and Public Administration. He has nearly 30 years of finance experience in Hungary and Central Europe, mainly in buy-outs, business valuations, financing and strategic planning assignments for Hungarian and international companies. Since 2019, he has been the Chief Operating Officer of Adventum International Ltd. and a member of the strategic management team of Adventum QUARTUM Fund investments.
SPP’s goal is to own and operate a portfolio of retail parks that is attractive to both institutional and retail investors, with a continuously improving income generating capacity. The below-market average rental level provides an excellent opportunity to achieve this: by leasing under-utilised space to new tenants, rents can be achieved at levels close to the market.
Another important goal is to make operations more efficient, complemented by comprehensive greening. The ongoing efforts to streamline the operation of the facilities acquired last year shall have a positive impact on profitability: as part of the complex green strategy, the aim is to achieve 30% energy savings at portfolio level compared to the level at which the properties were acquired through the energy efficiency measures and investments made so far.
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energy saving target
Planned investments include more efficient heating and cooling systems, installation of a solar park, ledgering and integration of geothermal potential.
As SPP’s long-term ambition is to own and operate the largest retail park in the region, further expansion to other countries within East-Central Europe is also a possibility in the future.