New Property Management Partner for Shopper Park Plus

On July 28, 2025, Shopper Park Plus Plc. (SPP) signed a letter of intent with ESTON International Ltd., the Hungarian partner of one of the world's leading property advisors, Savills. ESTON International has been managing part of the Shopper Park Plus portfolio since mid-2022, following the acquisition of the properties, SPP announced on the website of the Budapest Stock Exchange.

Until now, SPP has worked with two separate property managers to ensure operational security, while focusing on store refurbishments, the implementation of ESG principles, and the overall consolidation of portfolio management. In 2025, SPP set out to further streamline operations with the aim of centralizing property management in a single hand – a move expected to generate substantial cost savings through improved economies of scale.

Based on the signed letter of intent, from January 1, 2026, ESTON International will become the exclusive property manager of SPP’s retail park portfolio in Hungary for a period of three years. As a result, the portfolio of ESTON International will expand by 200,000 square meters, bringing its total managed assets to well over 600,000 square meters. This agreement, along with the related cost optimization and operational efficiency improvements, is expected to deliver significant savings compared to SPP’s preliminary five-year strategic plan. According to the company's projections, this could result in a reduction of leakage of between EUR 500,000 and EUR 600,000 in the 2026 fiscal year – contributing meaningfully to improved operational efficiency and long-term profitability for the group.

Following the launch of the Shopland brand in the Czech Republic, the second half of 2024 saw its entry into the Hungarian market as well. SPP’s ambition is to establish Shopland as a retail destination that stands for convenient, everyday shopping in refurbished retail parks. The aim is not only to offer easily accessible locations with hassle-free parking, but to provide a one-stop shopping experience where customers can find all the goods and services they need on a weekly basis. In addition to groceries, this includes drugstores, fashion, books, homeware, and a vibrant food court with cafés, restaurants and fast-food outlets.

SPP remains firmly committed to enhancing the cost-efficiency of the group’s operations and continuously seeks opportunities for optimization. As part of this effort, the company will evaluate the impact of its efficiency-enhancing measures at the end of 2025 and update its financial guidance for the coming years accordingly. The anticipated savings of over half a million euros in operational expenses not only demonstrate improved efficiency but also deliver tangible value for the company’s investors.

Shopper Park Plus Plc. (SPP) owns 14 grocery-anchored retail parks in Hungary through its subsidiary, with Tesco as the leading anchor tenant. In recent months, SPP has focused on consolidating its portfolio, adapting its assets to better reflect current consumer preferences. As a result, the properties have been redesigned to accommodate new brand stores and to better serve customer needs. In line with investor expectations, the company has also prioritized cost optimization, beginning with a comprehensive review and restructuring of property management services to enhance operational efficiency.