The Savills investment team in Poland has advised London & Cambridge Properties (LCP) on the acquisition of three shopping malls for a total of €67 million in the cities of Radom, Tarnów and Piotrków Trybunalski.  Vendor Echo Investment signed preliminary sale agreements with the London-based property firm in December 2012 and the deal completed in April 2013.

The Radom shopping centre is located on Żółkiewskiego Street and has 19,500 sq m of retail space, while the Tarnów mall is situated in Błonie Street and comprises 20,200 sq m of lettable retail space.  The Piotrków Trybunalski scheme includes 17,400 sq m of space and is located in Sikorskiego Street. All three properties are anchored with Real hypermarkets and Nomi DIY stores.

James Fife, LCP, managing director for Poland, comments: “LCP is very committed to expand its portfolio in Poland and we are delighted with the acquisition of these three shopping centers in addition to the other acquisitions we are making at this time.”

Michał Ćwikliński, head of investment in Poland, says: “We have a good level of expertise in retail having recently boosted our retail agency team and we are getting more involved in retail transactions, which is demonstrated by these deals.  All three shopping centres are galleries anchored by hypermarkets that have recently been refurbished. They are let to strong tenants including Polish and international brands such as Real, Deichmann, Nomi, RTV Euro AGD, CCC among others.”

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For further information, please contact:
Michal Cwiklinski, Savills Poland  Tel: +48 (0) 22 222 4010
Lucie Richards, Savills press office Tel: +44 (0) 20 7409 8884
Katarzyna Nosal, Savills Poland  Tel: +48 (0) 22 222 4011