https://www.engineeringnews.co.za
Shell
Shell
shell

Redefine completes M1 acquisition in Europe

6th November 2020

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

JSE-listed real estate investment trust Redefine Properties’ European subsidiary has completed the acquisition of the M1 Marki Commercial Centre, near Warsaw, in Poland.

As part of the transaction, Redefine will sell its 25% equity interest in Chariot Top Group – which is the sole shareholder of Chariot Group – back to the company for £55.2-million.

M1 Marki has a gross leasable area of about 47 000 m2 and comprises two main retail buildings – the M1 shopping mall and a standalone Obi do-it-yourself store – as well as three smaller buildings that comprise a Norauto car repair shop, a Burger King and a Shell petrol station.

The centre, together with the neighbouring Ikea, Decathlon, Agata Meble and Homepark Targowek retail park form one of the biggest retail clusters in Warsaw.

Redefine CEO Andrew Konig says the transaction simplifies the company’s offshore asset platform and also facilitates the exit of a minority-held investment yielding nonrecurring income in exchange for a wholly-owned asset generating recurring income.

Redefine Europe was established by Redefine in 2018 for the purpose of holding the group’s European assets.

Edited by Creamer Media Reporter

Comments

Showroom

Flameblock
Flameblock

FlameBlock is a proudly South African company that engineers, manufactures and supplies fire intumescent and retardant products to the fire...

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.196s - 151pq - 2rq
Subscribe Now