PRO Linz retail park opens following a complete renovation

PRO Linz, one of the most recent acquisitions of the ZDR QIF fund, opened to the public on Thursday, 25 June. The complete renovation of this Linz shopping landmark took roughly a year and a half.

One of the best-known retail addresses in Linz, PRO Linz is also among the newest additions to the ZDR QIF fund. We signed the acquisition agreement in March, and the property will join the fund's portfolio in spring 2027, once operations are fully established. It is one of four Austrian acquisitions made this year across the ZDR Investments group, and our fourth transaction with the Rutter Immobilien group, with whom we have worked since last year.

The retail park sits in the wider centre of Linz, in the Urfahr district, with a direct public transport connection. The original PRO opened on this site back in 1974 and served the area for decades before closing in December 2024 for the renovation.

A complete renovation

Renovating an established property rather than building from scratch is characteristic of the Austrian market: new greenfield retail parks are now practically a thing of the past there, so existing schemes are reworked instead. The same logic shaped both of our Austrian acquisitions at the end of last year.

The new PRO was designed by the Linz studio Riepl Riepl Architekten, with steel and wood as the defining materials. A covered arcade runs through the building to connect the individual units, joined by a new passageway linking the large car park to the neighbouring street. A nice architectural touch is the underside of the cantilevered entrance canopy, whose pattern echoes the lattice of the Linzer Schnitten, a local confectionery speciality.

Tenant mix

The tenant mix pairs strong grocery anchors with a broad everyday offering. The main tenant is BILLA Plus, one of the largest branches in Austria at more than 5,000 square metres, alongside a Lidl supermarket. They are joined by the dm and Müller drugstores, fashion retailer Fussl, the Winkler bakery and café, and the Italian restaurant L'Osteria. Many of the tenants are long-established family businesses.

The renovation also kept on trusted tenants that have traded here for years. The PRO Apotheke pharmacy, the Seinitz newsagent, and the Blumentante florist all have space in the refurbished building, and the pharmacy and newsagent stayed open throughout the works from temporary containers.

A visit ahead of the opening

Our team visited PRO Linz shortly before opening, as the final fit-out of the individual stores was being completed. One detail that stands out against other markets: every shop opened at once, rather than the staggered openings common elsewhere, where some units are still being finished after the centre is already trading. The full infrastructure, charging stations and landscaping included, was ready in time for the launch.

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A focus on sustainability and accessibility

The project comes with modern transport and energy infrastructure: around 400 parking spaces, 100 covered bicycle stands, and ten fast-charging stations for electric vehicles. Much of the roof is green, and the building also carries a photovoltaic power plant.