Investors bought the Futurum center in Brno, will renovate it for one billion

Brno - The investment group Opifer has purchased the Futurum shopping center in Brno. The property is planned to be completely rebuilt. The investment will amount to one billion crowns. This was reported today by the e15.cz server. Opifer bought the center from the multinational group Atrium European Real Estate.

The group invests in biotechnology and IT start-ups. However, it has now entered a completely different business. "We focus long-term on venture investments. The purchase and reconstruction of Futurum fall into this area. With real estate investments, we want to further diversify our portfolio and achieve above-standard returns even in real estate projects, which are significantly less risky than other areas in which we invest," said co-owner of the group, Lukáš Foral, to the newspaper.

Futurum was established in 2001 and is struggling with lower visitor numbers. It will undergo a complete transformation. "Every shopping center must go through some smaller or larger changes every eight to ten years. This is standard in Europe. Adjustments to furniture, lighting, decorations, and entrances will take place," said retail specialist Jan Kotrbáček from the consulting firm Cushman & Wakefield. The start of the reconstruction will depend on obtaining the necessary permits.

According to Foral, Opifer will finance the billion-crown investment through partner capital, bonds, and a stake from the bank. The shopping center covers an area of 35,000 square meters. It hosts a number of stores, led by the Tesco hypermarket.