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Polish shopping centre bought by local investor

International real estate advisor Savills has advised local investor PH3 in the acquisition of a 15,000 sqm (161,458 sq ft) shopping centre in Pabianice, on the outskirts of Poland’s second largest city Lodz, for approximately €24m. 

The property was developed by Polish firm Echo Investment in 2002.  It is fully let and tenants include Piotr i Paweł, Jysk, NOMI, RTV Euro AGD, Reserved, Rossmann and CCC.

- This was a great investment opportunity for PH3 with a lot of upside potential and a very good trading history with strong rent/sales ratios.  It is a promising sign that investors are looking further afield and not just focusing on prime assets in Warsaw. - says, Michal Cwiklinski, head of investment Savills Poland.

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