G3 consists of a shopping centre and retail park and is located on the highly frequented Vienna Highway Road approximately 5 km northeast of Vienna, in a region with strong population growth and attractive purchasing power. Due to its excellent visibility and accessibility, modern architecture and well-diversified tenant mix, including strong anchors such as Primark, customers are attracted from a large catchment area (870,000 inhabitants).
The Investment Strategy
- Acquired in 2014 by the ECE European Prime Shopping Centre Fund I
- Centre stabilisation and targeted market penetration in order to increase centre acceptance and dominance within the catchment area
- Continued optimisation of the branch and tenant mix including lease-up of the retail park
- Continued optimisation of operations i.e. reducing operating expenses, implementation of standard lease contracts.
- Transferred to the ECE Progressive Income Growth Fund in 2019