The transaction, which at the time of its announcement in 2021 was described as the largest single asset real estate acquisition in Slovakia with a total value of EUR 450 million, was realised exactly as planned. These days, WOOD & Company, together with its joint venture partner Tatra Asset Management (TAM), became the sole shareholders of Aupark Bratislava, with WOOD & Comapny holding a majority stake.

"The successful completion of the acquisition of Aupark Bratislava is a significant milestone for WOOD & Company and confirms our ability to meet our strategic commitments to our business partners and investors," says Martin Šmigura, Local Partner at WOOD & Company, adding: "Aupark is a key asset in our product portfolio and its acquisition underlines our strong position in the Central European retail market."

Investors had the opportunity to acquire a stake in the iconic shopping centre in the form of the AUP Bratislava sub-fund through a direct subscription before the final third tranche was completed.

Continuity in the management of Aupark Bratislava

Despite the change in the ownership structure, URW will remain the property manager of OC Aupark, which will ensure the continuity of the centre's operation and management.

This way nothing will change for Aupark customers and tenants and the centre will continue to operate as before. However, WOOD & Company plans to bring new impulses and improvements that will further strengthen the position of this shopping centre on the market.

"Our goal is to keep Aupark the market leader in premium shopping centres. We plan to invest not only in expanding the range of services, but also in improving the visitor experience and improving the quality of services offered," says Šmigura.

Interesting revenues and stable growth: Aupark Bratislava in numbers

Aupark Bratislava continues to confirm its position as a premium shopping centre. Since the launch of the AUP Bratislava sub-fund in 2021, it has returned 27.87% to investors in the euro class, with an appreciation of 7.64% over the last 12 months (data as of 30 June 2024).

Aupark's stable performance is also reflected in its high occupancy rate, which has long stood at 98%. With 231 units for rent and a strategic location on the right bank of the Danube, this unique centre attracts millions of visitors every year. Their purchasing power is 42% higher than the Slovak average.

"The performance of the fund fully confirms the correctness of our decision to invest in this premium shopping centre. It is the only asset of its kind in the Slovak portfolio and its returns exceed our original expectations. We invest in what we believe in. Aupark is a clear proof that well-managed shopping centres in interesting locations and with a well-chosen strategy are an attractive investment opportunity," adds Šmigura.

Future in green

As part of the further development of Aupark, the centre is currently undergoing a significant expansion with additional 6,000 square metres, which will bring not only new sidewalk spaces, but also innovative solutions for visitors. The presentation to the public will take place during this autumn.

The shopping centre will introduce several premium brands, which will have their first store in Aupark in Slovakia, including the expansion of existing popular stores such as Bershka or Pull & Bear. A larger space and a new concept will be introduced by the Zara brand, which will offer shoppers its flagship store for the Slovak market in Aupark.

A key element of the expansion is the installation of one of the largest green facades in Slovakia, which will cover an area of approximately 600 m2 with almost 40,000 plants. The green wall is not only an aesthetic element, but also brings significant environmental benefits. It will naturally cool the building, reduce the carbon footprint of the centre, improve air quality and contribute to biodiversity in the urban environment.

These initiatives are part of WOOD & Company's broader sustainability strategy. Since 2014, OC Aupark has been BREEAM In-Use certified at 2x Excellent level, confirming its leading position in the field of environmentally friendly operation of commercial real estate.

"We are convinced that Aupark has a great future ahead of itself. We look forward to further cooperation with our partners from TAM in the development of this exceptional place," concludes Šmigura.