Over the past 15 years, Somerston executives have delivered approximately 300,000 sqm of institutional quality shopping centres across Europe. The Group’s largest project was the 110,000 sqm Olympia Shopping Centre in Brno, Czech Republic, which was sold to a joint venture of ECE and Rockspring in July 2011. At the time of sale, Olympia was the largest shopping centre in the Czech Republic, having been developed over 10 years in 5 phases.
The Group’s current European retail activities are focussed through its subsidiary Newbridge established in 2015. Through Newbridge, the Group intends to develop a portfolio of uniformly branded retail parks anchored by premier food anchors across Poland’s secondary cities.
Somerston also holds a strategic investment in Deutsche Real Estate Funds SA™ and its asset management platform, Deutsche Real Estate Advisor. DREF specialises in residential property investments with a particular focus on student housing and micro living and covers the entire value-added chain from the selection of properties through financing to construction and modernisation as well as subsequent management.