Redstone Expands Portfolio with Acquisition of Olympia Olomouc

Redstone, the development group led by entrepreneur Richard Morávek, has expanded its footprint in Olomouc by acquiring the Olympia Olomouc shopping centre. The seller was CCPEPF Poland Intermediate, part of the Catalyst Capital Group. The purchase price has not been disclosed.

Olympia Olomouc first opened in 2004 and was for years one of the region’s leading retail destinations. The centre today comprises more than 31,000 square metres of leasable space, over 50 retail, dining and service outlets, and 1,384 parking spaces. Anchor tenants include H&M, C&A, DATART and the Cinemax multiplex.

Over time, Olympia’s position in the local market has been challenged, particularly after the 2013 opening of Galerie Šantovka – also owned by Redstone – in the city centre. Šantovka has a retail area of around 48,000 square metres with approximately 200 units, as well as leisure facilities including a multi-cinema and bowling arena, making it the larger of the two properties.

Local media note that while Olympia was once the dominant shopping destination in the region, its peripheral location and smaller tenant mix compared to Šantovka weakened its position. Nevertheless, the centre remains a recognised retail hub in Olomouc, and Redstone has indicated plans to enhance its tenant offering and services to revitalise the asset.

“We are pleased to be expanding our portfolio in Olomouc with Olympia,” Richard Morávek commented. “The centre has a strong history and potential to complement Šantovka as part of a wider retail and leisure ecosystem in the city.”

Redstone’s acquisition is seen as part of a longer-term strategy to consolidate and strengthen its position in the Olomouc retail market. With both Olympia and Šantovka under its control, the group will have significant influence on the city’s shopping and leisure landscape.