18th Nov 2015 09:37
LONDON (Alliance News) - Plaza Centers NV Wednesday said it achieved a stable performance in the third quarter of 2015 and is confident the business is in a strong position to deliver on its objectives.
The shopping centre developer said portfolio occupancy remained stable at 93.3% as at September 30, compared with 92% in the third quarter of 2014.
Over 3,000 square meters of gross leasable area is under final negotiations, Plaza Centers added, and is expected to bring total portfolio occupancy to 96% once completed.
At Torun Plaza in Poland, occupancy increased to 94% from 93%, contributing to a slight turnover rise of 2%, while occupancy at Suwalki Plaza, also in Poland, grew to 95% from 92% following lettings to eight new tenants.
Plaza Centers said negotiations on the remaining five units are underway and it expects to reach 100% occupancy in the near future. Footfall at Suwalki Plaza was up 4.5% in the quarter, while turnover also grew.
Turnover and footfall at the third Polish property, Zgorzelec Plaza, remained stable despite the closure of a supermarket in April which led to a decrease in occupancy to 89% from 95%.
At Riga Plaza in Latvia, occupancy decreased to 97% from 100% as a result of some small retailers exiting the Latvian market, but turnover grew 8.9% as footfall rose 3.7%.
Meanwhile, Liberec Plaza in the Czech Republic saw an 11% rise in turnover, despite occupancy decreasing slightly to 83% from 84% owing to lease expiries, and footfall declining by 3.7%.
"The planned developments of Timisoara Plaza and Belgrade Plaza (Visnjicka) are advancing and, as we move towards the end of this financial year, we are confident that the company is in a yet stronger position to deliver on our objectives," Chief Financial Officer Roy Linden said in a statement.
Shares in Plaza Centers were untraded Wednesday morning, last quoted at 2.09 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Plaza