Mitiska REIM sells Czech retail park to Fio Real Estate Fund

European convenience real estate investor Mitiska REIM has sold the Retail Park Strakonická in České Budějovice, Czech Republic, to Fio Real Estate Fund.

Retail Park Strakonická in České Budějovice

Mitiska REIM initially acquired the property in December 2022 through its FRI 2 fund, in partnership with Asset Services. The project involved a value-add strategy that repurposed an existing Albert hypermarket and added an extension, transforming it into a modern, grocery-anchored retail park, which officially opened in November 2023.
Located conveniently on a main road in České Budějovice in Southern Bohemia, the retail park spans 10,900 m2 of gross leasable area. It features 13 retail units and parking space for nearly 300 vehicles. The centre is anchored by an Albert supermarket, with other key tenants including Action, TEDi, DM drogerie Markt, KIK textil, Gate, Planeo, Boels, and Dr. Max.
The Retail Park Strakonická also boasts a BREEAM "Excellent" certification. It is equipped with LED lighting throughout, and solar panels are slated for installation on the roof within the coming year.
David Tejml of Asset Services commented: “We early on recognised the redevelopment potential of this former hypermarket site, which enjoys a key strategic location within the city. Since opening two years ago, Retail Park Strakonická has become a go-to shopping destination for both people in the city and the wider catchment area.”
Tomas Cifra, Mitiska REIM’s managing director for Romania, the Czech Republic, Slovakia and Bulgaria, added: “We continue to see a solid pipeline of opportunities both in the Czech Republic and across our European markets to repurpose existing buildings and redevelop them to create modern, successful and sustainable retail parks and convenience centres. Retail Park Strakonická is a great example of this value-add approach, with the retail park now being successfully divested on the completion of our redevelopment and asset management programs.”
Mitiska REIM was advised on the transaction by Kinstellar, CBRE and Moore Czech Republic.