The expansion of modern retail networks will bring a new situation onto the domestic market, as Carrefour prepares to join Real at the same retail park in Sibiu.
Carrefour, the most powerful hypermarket network in Romania, will open its first store in Sibiu within the European Retail Park project and join Real hypermarket, which covers 11,600 square metres.
"An area of 12,500 square metres has already been pre-rented to Carrefour and other spaces that cover 10,000 square metres are already in retailers' hands," reads a report by Oriel Securities firm, a partner of UK's North Real Estate Opportunities Fund, which owns the retail park in Sibiu.
The information was confirmed by Carrefour officials, who declined to make any further comments, while Real maintained a similar position.
"In principle, this is not a normal situation. In the long run the existence of two hypermarkets so close to each other is justified by an excellent commercial position and the complementary products and services offered," explains Daniel Micu, senior partner with Trout & Partners consultancy.
Sibiu retail park, developed by Belgium-held BelRom, was acquired by UK's North fund in a deal worth 83m euros last year.
"We are expanding the park by 30,000 square metres and have signed several pre-rental contracts. Ourselves, as well as our tenants, believe the expansion will create the strongest retail destination in Sibiu and the project, which will have an area of 80,000 square metres, will become a regional shopping centre," stated Magnus Lofgren, managing director of the British fund.
A similar situation, but on different retail segments, is present at the exit from Brasov to Bucharest, where two cash & carry outlets, Metro and Selgros, are located close to one another, and also in Baneasa retail park, which includes two large furniture stores, Mobexpert and IKEA, as well as two major networks of electronics and electrical home appliances, Flanco World and Media Galaxy.
Sibiu retail park also includes a Baumax DIY store, a Media Galaxy and a mall with an area of 10,000 square metres, which includes tenants such as Adidas, Benetton and Levi's.
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