Israel’s BIG Shopping Centres has acquired a modern retail park with extension opportunity in Andrychów, Poland, for €40 mln.
The property was sold by retail centres developers Equilis (Belgium) and Acteeum (Poland) who plan to use the profit from the sale for expansion in Poland.
Opened in November 2021, Galeria Andrychów has 24,000 m2 of leasable area and over 30 stores, including a Lidl supermarket, DIY store Leroy Merlin, electronics and household appliances store, drugstores, clothing and shoe stores.
The retail park is fully leased, serving a catchment area of nearly 200,000 inhabitants.
Last year, it won the prestigious ‘Future Project’ award during the 13th edition of the EuropaProperty CEE Retail & Marketplace Award.
Anna Duzynska, president of the Management Board of Equilis Poland, said: ‘Our joint business model with Acteeum in the retail real estate segment assumes the construction, commercialization and subsequent sale of retail projects. The excellent location of the retail park and its growing popularity among the residents of Andychów, the vicinity of Krakow and Bielsko-Biala make us confident about the development of this place. The generated profit will be used for the acquisition of commercial real estate or the purchase of plots for retail parks, which we will build, commercialize and sell. Already in the next year, we will start the implementation of residential projects in Warsaw.’
Acteeum and Equilis have jointly completed 12 retail centres with a total gross leasable area of 200,000 m2, of which Equilis in Chelm and Andrychow are the most recent.
Acteeum has secured an additional six retail park projects and will also start construction of around 1,000 micro apartments in Warsaw and Gdansk.