Mitiska REIM is a specialist real estate investment manager targeting retail parks, urban logistics and multi-let light industrial, a sector we call convenience real estate. Sited on urban infill locations, these projects capitalise on the increasing demand from end users for accessible locations, affordable buildings and flexible design.

In the past 10 years, Mitiska REIM has built on behalf of funds a portfolio of 76 properties representing 810,000m² gross leasable area across Belgium, The Netherlands, France, Germany, Spain, Portugal, Romania, Poland, Czech Republic and Slovakia.

CONVENIENCE REAL ESTATE

Key characteristics

Accessible locations

  • Easy access by multimodal transport
  • Parking
  • High traffic locations
  • Urban infill locations

Flexible design

  • Multiple tenants
  • Modular design
  • Potential for alternative/mixed use
  • Comprehensive offering for consumers

Affordable buildings

  • Cost efficient construction
  • Low rents
  • Low overheads
  • Low investment per m²

LEVERAGING SOCIO-ECONOMIC MEGATRENDS

For the past several years, we have seen an accelerating opportunity in convenience real estate driven by the converging trends in retail, urban logistics and multi-let light industrial. Several social-economic megatrends are underpinning this evolution:

Urbanisation

With around 75% of Europe’s population now living in urban areas, demand is accelerating for retail as well as services from the consumers that live, work and play in these areas.

Consumers

Consumer are becoming more time-constrained and are increasingly looking for convenience when shopping and accessing services.

Mobility patterns

Inner-city congestion and emission charges are encouraging consumers to seek easily accessible locations on urban ring-roads, with sites also accessible via public transport or bike.

RETAIL PARKS

The core proposition of retail parks, based on convenience, essential shopping and value or money, continues to position the sector strongly for the future and as a preferred retail format for both retailers, shoppers and investors alike.

Offering large units with relatively low rents and high car parking provision, retail parks have not only become the most convenient location for servicing daily shopper needs, but are also ideally suited to support omnichannel retailers offering click and collect orders, customer returns and home deliveries.

URBAN LOGISTICS

The increase in e-commerce sales has had a significant impact on the demand for logistics space across Europe. This surge in demand has raised the bar in terms of meeting consumer expectations for quick and timely deliveries and is driving the need for last-mile logistics bases in urban locations.

The convenience real estate model is ideal for retailers wishing to develop a hybrid retail store format which will include both front-of-the-house, consumer-facing retail and a back-of-thehouse fulfilment centre.

MULTI-LET LIGHT INDUSTRIAL

Demand for multi-unit light industrial schemes is on the rise as the growing number of small and medium-sized businesses look for convenient sites close to their customer bases and their employees, in which to expand their operations.

The flexible design of convenience real estate developments in a mixed-use setting is ideally positioned for the differing business models and space requirements of SMEs. When developed in combination with a retail park, employees benefit from the daily convenience offered by the retail park onsite, making their workplace a more lively and attractive place to work.

INVESTMENT CRITERIA

Targeting land plots

>10,000m²

Gross leasable area

>3,000m²

Total investment volume per property

€5m – €50m

Portfolios

<€250m

VALUE ADD
INVESTMENTS

We work with local co-investment partners to look for existing income producing properties with strong upside potential such as under-rent situations, where we can add value through refurbishment, re-development, extension and active asset management.

DEVELOPMENT
PROJECTS

We are also active in new developments, where local co-investment partners can leverage our 30 years’ experience in concept definition, design, construction, leasing, bank financing, retailer relationships and exits.

OUR EUROPEAN

MARKETS

Exisiting markets

Belgium

Netherlands

France

Germany

Spain

Portugal

Romania

Poland

Czech Republic

Slovakia

Potential markets

United Kingdom

Italy

Nordics

AL AD AT BY BE BA BG HR CY CZ DK EE FI FR DE GR HU IS IE IT XK LV LI LT LU MK MT MD MC ME NL NO PL PT RO RU SM RS SK SI ES SE CH UA GB VA

PORTFOLIO