In October 2009, OC Rokycanská in Pilsen celebrated the completion of rebranding and overall modernization with a double-digit increase in sales compared to the same period in 2019. Visible changes came after its 20 years of successful operation. The example of this shopping center, which is owned by the Czech real estate fund Trigea, shows that investing in older real estate has an effect – not only in terms of attendance, but also in the interest of tenants. The very first store in Pilsen is going to open on February 7 by the popular brand Sinsay – and it has chosen OC Rokycanská.
Investments associated with building modifications and a new identity were accompanied by preparations at the technology level. Trigea, in cooperation with the center’s property management, CBRE, is also completing preparations for extensive interior renovations and energy equipment innovations. In the course of 2022, photovoltaic panels with an expected output of around 700 kW and a corresponding battery capacity will be installed on the roofs of the complex.
The next step will be to change the technical equipment of the center to a cogeneration unit producing efficiently heat and electricity, with a possible extension to the cooling function. The installation of a charging station for electric cars is also being examined, which is an increasingly popular service among customers – and it makes sense in conjunction with a shopping center.
“We appreciate the active approach of the owner, who immediately after taking over the center in February 2020 started with significant investments. They reached tens of millions of crowns. And they brought a quick effect in the form of the center’s performance, which in some indicators exceeded even the last pre-covid year. On the contrary, other planned plans will lead – in addition to even greater comfort for tenants and visitors – to significant operating savings. One of the planned projects is the installation of photovoltaic panels on the roof of OC Rokycanská,” adds Tomáš Míček, head of the retail sector and the department of shopping center management at CBRE.
The segment of retail parks or regional shopping centers benefiting from comfortable accessibility and an attractive rental mix performed best among retail formats even during a pandemic. As in the case of OC Rokycanská, Trigea is also advancing in other retail projects in its portfolio – Retail Park Haná in Olomouc or Retail Park Ostrava.
A more attractive exterior design, pleasant and well-arranged interiors, interior spaces with the necessary service, navigation or just a visual identity have long been underestimated in the category of retail parks. However, the example of OC Rokycanská shows that with a well-thought-out investment strategy, this retail concept has considerable potential to reach new target groups – for example, those who associated these attributes mainly with traditional shopping centers or brick-and-mortar stores. So not only affordable and fast shopping, but also the added value associated with the stay of visitors.
“The aim of the redesign of OC Rokycanská was to prove that even the shopping center can have a modern and progressive design, which clearly sets itself apart from its competitors. The final branding consists of timeless and distinctive typography, original colors and a wide range of symbols that make Rokycanská recognizable and memorable at first glance,” explains Tom Garcy from the This is Garcy studio, which prepared a new identity for the Pilsen center.
The CBRE survey shows that the implemented changes are evaluated very positively by customers. The change also benefited the overall perception of OC Rokycanská, which defines the backbone communication environment in Pilsen. And above all, the new graphic identity was reflected in increasing traffic and sales.
These investments, which respond to current trends in retail, are accompanied by the continuous attractiveness of the range of shops and services. In addition to the aforementioned Sinsay brand, the management of OC Rokycanská also meets the demand for local and gourmet food. These are covered by Děd’s farm, focused on Czech food, including pastries, dairy products, cold cuts, adjective wine and delicacies.
“All the steps described prove that our fund, which is based on domestic capital, treats real estate as a long-term owner. The property is committed to the best possible care for the property, its users and visitors. This approach pays off for us in the short term,” adds Tomáš Trčka, managing partner of Trigea Real Estate Fund, SICAV, as, which has invested over CZK 3 billion in commercial real estate since its inception in 2019 and has entrusted it with almost 10,000 clients.
Author: CBRE Czech Republic
