euro adhoc: Meinl European Land Limited
Mergers - Acquisitions - Takeovers /
Meinl European Land: Continuing expansion
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
20.07.2006
1. Acquisition shopping centre with retail park in St. Petersburg
Vienna, July 20, 2006: Meinl European Land Limited further strengths its activities in Russia and acquires a shopping centre in St. Petersburg. The shopping centre "Severnij Mall" in the North of the hub of 4.1 million inhabitants is currently under construction and the first part of the centre shall be opened until year-end 2006. The shopping gallery will have a total lettable area of approximately 26,000 sqm plus a "Real" hypermarket operated by the German Metro group with around 10,000 sqm. In addition the project, which has a land plot of 50 hectares, includes a significant land reserve for the extension of the shopping centre by a retail park. The total investment value for the centre including the planned retail park will amount to approximately EUR 120 million. The shopping centre will generate an attractive yield of around 15%.
2. Building permit for largest shopping centre in East-Poland
Expansion continuous in Poland as well: Meinl European Land received the legal binding building permit for the shopping centre project "Felicity" in Lublin. With a total shopping area of more than 100.000 sqm "Felicity" will be so far the largest shopping centre in the Eastern part of Poland. "The retail space density in this region, which has a catchment area of almost 1 million people, is still relatively low", explains Francis Lustig, Speaker for Meinl European Land the reason to plan the major project. "In addition we expect potential customers from the border districts in the Ukraine and Belarus." One of the anchor tenants will be Metro group with a large hypermarket. In addition Meinl European Land has firmed up the lease agreement with French based DIY operator "Leroy Merlin". A large furniture centre is planned as well. The total investment value in the final stage of expansion of the centre will amount to approximately EUR 135 million and the yield will be almost 10%. The opening is scheduled for the third quarter of 2008.
end of announcement euro adhoc 20.07.2006 09:48:07
Further inquiry note:
Pleon Publico Public Relations & Lobbying
Mag. Claudia Müller-Stralz
Tel.: ++43 (0) 1/717 86 107
mailto:claudia.mueller@pleon-publico.at
Branche: Real Estate
ISIN: AT0000660659
WKN: 066065
Index: Standard Market Auction
Börsen: Wiener Börse AG / official dealing