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“Corio acquired Anatolium shopping centre in Turkey for € 176 m in line with Corio’s last reported Net Theoretical Yield for Corio Türkiye. Corio announced on 12 November 2007 that it has reached an understanding regarding the turnkey development and acquisition of a 100%-interest in Anatolium shopping centre in the city of Bursa. The shopping centre has a total gross lettable area (GLA) of approximately 84,000 m2 ; the first phase, an IKEA of 24,000 m2 opened in November 2008, Carrefour and Leroy Merlin opened on 31 March 2010 and the remaining part of 34,000 m2 will open in the fall of 2010. At opening, the centre will have an occupancy rate of approx. 90% and up till the end of 2012 the developer of the shopping centre will provide a rental guarantee for any vacancy. The rental contracts are Euro based.
Anatolium shopping centre comprises approx. 84,000 m2 GLA and 2,500 parking spaces. The shopping centre is anchored by IKEA, Carrefour, Leroy Merlin and MediaMarkt. Due to its sheer size, its concept and design and its strong tenant mix, Anatolium shopping centre is the dominant regional shopping centre in its catchment area, serving 1.8 million inhabitants within 15 minutes and 2.3 million inhabitants within 45 minutes driving range.
The developer of the shopping centre, Maya Holding A.Ş., headquartered in Istanbul, was founded in 1950 and is, amongst other things, active in the fields of residential and mall development and construction and textiles. Maya Holding is the IKEA franchisee for Turkey and since 2003 they have opened four IKEA stores of which two are in Istanbul.
Bursa is the 4th biggest city in Turkey with a strong automotive andtextile industry, accounting for 8,9 % of Turkey’s export industry and 4,3% of GDP contribution. The city is located in the very affluent Marmara region in the north-west of Turkey. The population of approx. 2.3 million inhabitants is continuously growing due to the ongoing urbanization. The university city of Bursa has assumed increasing economic importance as the heart of the Turkish automobile industry and as an important centre for the food and textile industry. Both Renault and Fiat have an automobile factory in Bursa. Anatolium shopping centre is located in the Osmangazı district of Bursa, north of the city centre, near the interstate bus terminal and directly adjacent to the highway connecting Bursa with other (major) cities and the new ring road connecting the western and eastern part of Bursa.
Koray Ozgul, CEO Corio Türkiye: ‘Anatolium Shopping centre with its very strong anchors, wide selection of brands and sheer size, will be the dominant player in the Bursa catchment area. The characteristics of both the city and the centre fit with Corio Türkiye’s strategy for the future. Benefiting from proven Corio management and marketing teams, Anatolium is bound to be a favourite meeting place in the Marmara region. Furthermore, its distinctive concept which originated from features of Bursa city, and two storey well-connected vertical and horizontal circulations, will support that purpose. It is estimated to produce 335 m TL yearly sales in 2011 and 60 m TL value added tax. Anatolium itself will positively contribute to the social welfare by causing a 3.4% decline in unemployment rate in the city by creating approx. 15.000 new jobs.” (CS della Società)
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