Valad extends Butovice
Retail & leisureschedule 24 January 2017
CZECH REPUBLIC Valad Europe, part of Cromwell Property Group, has pre-leased 15,000 sqm of space, which is currently under construction, to Austrian retailer Kika Nabytek for a new store in the Galerie Butovice shopping centre in Prague.
Planning permission was granted in November to expand the shopping centre by 15,000 sqm to 51,000 sqm, to make it one of the leading retail destinations in western Prague and construction work has been in progress since December by general contractor HSF System. Since Valad acquired the centre two years ago for its Valad Central European Retail Partnership [VCERP] fund more than 40 new leases and lease renewals have been signed including the lease renewal of hypermarket Ahold / Albert until the
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