Dawnay Day Carpathian (DDC), the fund management arm of the London-based Dawnay Day Group, is adding to its Central and Eastern European portfolio with a purchase of four properties from Austrian-based MID group for EUR 67.7 mln. Two of the properties are in the Czech Republic - a 22,000 m[sup]2[/sup] shopping centre in Hradec Kralove and a 7,700 m[sup]2[/sup] supermarket in Znojmo, and two in Hungary - a 10,000 m[sup]2[/sup] retail park in Ozd and a 9,000 m[sup]2[/sup] supermarket in Gyula. The let is largely to international brands on long-term leases with 87% of the income secured against leases with Interspar and Baumax. After purchase costs the portfolio will yield net initial returns of some 6.45%.
Premium subscriber content – please log in to read more or take a free trial.
