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Centrum Kowale has financing

Centrum Kowale.

The investor in Centrum Kowale - Impress Sp. z o. o. spółka komandytowa (Polish limited partnership), started cooperation with Powiślański Bank Spółdzielczy, associated in Bank Polskiej Spółdzielczości S.A., concerning crediting construction of the centre. The value of the contract is nearly PLN 30 million.

Centrum Kowale is a convenience shopping centre developed in a dynamically evolving part of Tri-City, among huge housing estates, which offers several dozens of units in a retail part and office space situated in a two-storey building adjacent to the retail part. The combined retail and office space will total 6,000 sqm. The customers will be able to use 162 parking spaces in the underground car park as well as around the building.

Impress Sp. z o. o. spółka komandytowa is the investor in Centrum Kowale, which is a part of capital group Towarzystwo Inwestycyjne Investing S.A. with its head office in Gdańsk. The credit agreement with Powiślański Bank Spółdzielczy, associated in Bank Polskiej Spółdzielczości S.A., was signed in April this year. The value of the agreement is almost PLN 30 million. The credit granted by banks will ensure completion of all construction works. The total cost of the investment is estimated at PLN 34 million.

“During realisation of large construction investments, securing it financially is one of the most important factors. The just-signed loan agreement is another element that guarantees the success of the Centrum Kowale investment, the more so as the commercialisation process of the business enjoys great interest of tenants. Currently we are negotiating with a few representatives of renowned brands on the market. The great advantage of the investments is the fast-moving construction works, the progress of which has already exceeded 15 percent,” said Krzysztof Zaremba, President of the Management Board at Impress.

AXI IMMO is the exclusive agent responsible for the commercialisation of the scheme. Among companies which have already signed lease agreements with Centrum Kowale, there are: Tesco hypermarket, Ganesh restaurant, customer service points of Play, Polish-wide chain of Pepco discount stores, Main Optic optician and Kolporter newsagent’s. Talks with further tenants are underway.

The opening of Centrum Kowale is scheduled on the fourth quarter of 2012. Rex Bud Budownictwo Sp. z o. o. SKA from Lodz is the general contractor of the building. The completion of construction works is scheduled for the half of September this year. AXI IMMO is responsible for commercialisation of the premises.

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