Shopper Park expands its portfolio with foreign retail properties

According to the company, the central element of the plan is three separate transactions involving retail properties – two in Poland and one in the Czech Republic – with a combined gross leasable area of ​​approximately 42 thousand square meters. All properties are or will be occupied by leading food retailers under long-term leases.

Two of them are already operating with occupancy rates of 98 and 100 percent, respectively, are located in well-established commercial destinations and have prime tenants. Both properties meet SPP’s investment criteria, providing an internal rate of return (IRR) above 12 percent and a cash-on-cash yield of at least 8 percent, they wrote.

The third major transaction is a pre-financing facility for a new shopping center in Poland with a gross leasable area of ​​6,340 square meters. SPP will only enter the project if it is completely risk-free: the building permit has been obtained, leases for more than half of the gross leasable area have been concluded, and a binding agreement on financing terms and the related general contractor agreement have been concluded. The expected construction period is approximately 12 months.

The company indicated that the total value of the two acquisitions and the total cost of the investment are estimated at EUR 49 million. After the investment is completed, the three properties are expected to generate an annual net operating income of approximately EUR 4.1 million. SPP expects the pre-financed project to result in an even higher cash-on-cash return due to the more favorable banking conditions for new-build properties. The transactions are expected to close in the second half of 2026.

The fourth project is still in its early stages, but is currently expected to also meet the SPP’s investment criteria, it said.

Either of the two projects, as well as the pre-financing project, can be financed from internal cash flow or from the remaining proceeds from the secondary public offering, which closed in November 2025. SPP’s cash balance at the end of 2025 was equivalent to 31 million euros, the company informed.

In order to partially finance the projects, SPP is examining the possibility of issuing euro-denominated bonds within the framework of a bond program in the next two years. The planned issue volume for 2026 is 40-50 million euros. Any potential bond issue will only take place under favorable market conditions, Shopper Park Plus wrote.

According to the information published by Shopper Park Plus Plc. in February, the SPP Group’s after-tax profit in 2025 was 36.6 million euros, 12.4 million euros higher than in 2024. Last year’s annual rental income was 33 million euros, an increase of 8.8 million euros, or 36.5 percent, compared to the previous year.

Shopper Park Plus Plc. is a premium category issuer on the Budapest Stock Exchange. In Wednesday’s trading, the company’s shares closed at a price of 13.5 euros, with the minimum of 11 euros and the maximum of 13.8 euros over the past year.