The Gniezno shopping center is due to open late 2010.
The acquisition of Galeria Sandomierz, the first modern shopping center in the town, follows the recent announcement of KPP Retail’s acquisitions of Park Handlowy Eden in Zgorzelec and the Graf center in Chelm in December last year. The Gniezno project, on the other hand, is a completely new development being planned by KPP Retail, aiming to open late 2010. The acquisition in Sandomierz and the Gniezno project are the latest milestones in the execution of KPP Retail’s two-pronged business strategy. KPP Retail was established last year as the umbrella brand for the integrated services of Keen Property Partners, Master Management and Development Solutions and focuses on the acquisition and development of regional and local retail centers, a sector with high growth potential.
Galeria Sandomierz will be the first modern shopping mall in the town and the first stage plans to open in April this year. It is situated on Przemyslowa Street, only 2 km from the city center of Sandomierz, near to national route 77, which leads to Przemysl in the south via Jaroslaw, and Opatów in the north. The finished development will comprise of two separate one-story buildings with a total area of 10,000 m². The first building will house a Carrefour Express supermarket, a restaurant and a shopping gallery with a Drogeria Natura cosmetics store, an electronic goods store, numerous fashion outlets. A DIY store will be situated in the second building. There will be parking spaces for 200 cars, and the value of the investment is approximately 13 million.
The Gniezno project, still in the planning stage and being designed by award-winning architects Chapman Taylor, is envisaged by KPP Retail as a spacious and modern shopping mall bringing nearly 100 new stores to the people of Gniezno and the surrounding region. KPP Retail plans to create a vibrant new focal point for the local community and visitors in the center of Gniezno. The plans are to offer shoppers the largest shopping center in Gniezno, including a new supermarket, electronics stores, home furnishing outlets and several restaurants and cafés located in a food court. KPP Retail hopes the project will be ready for opening late 2010.
“We are excited by the fact that KPP Retail’s already significant portfolio of high-profile regional shopping centers is continuing to grow,” said Richard Keen, Managing Director, Keen Property Partners. “Our recent acquisitions such as Galeria Sandomierz, Park Handlowy Eden and the Graf center, together with our unique development projects such as Galeria Victoria in Wałbrzych, and the new plans for Gniezno, are the result of the cooperation of some of the best specialists and advisors that together create the quality represented by the KPP Retail brand.”
KPP Retail is the umbrella brand for the complementary and integrated services of three companies: Keen Property Partners, Master Management and Development Solutions. Master Management offers vast experience in property advisory and management, while Development Solutions offers expertise in construction and development management. Renowned real estate specialists and investors Keen Property Partners complete the KPP Retail brand.
The founders of KPP Retail have a reputation for quality projects and already have a good track record of success in Poland. This includes the acquisition and asset management of Galeria Orkana in Lublin and its subsequent sale to ORCO Property Group, the re-development and asset management of Rzeszów Plaza in Rzeszów, the co-development of Galeria Sieradzka in Sieradz, and also the recently-acquired Park Handlowy Eden in Zgorzelec, Centrum Handlowe Graf in Chełm and Galeria Sandomierz. KPP Retail is currently very excited about its unique and impressive Galeria Victoria project in the city of Wałbrzych, which received its building permit in January 2009 and will soon start construction.
Other recent additions to KPP Retail’s portfolio
Galeria Victoria, Walbrzych
Construction is soon to begin on Galeria Victoria, the first modern retail, entertainment, residential and hotel complex in Walbrzych and the surrounding region. Galeria Victoria will bring the first multiplex cinema (Cinema City), restaurants and cafés and many highly-desired Polish and international retail brands to the city for the first time. At the moment the shopping mall is approximately 40% leased. Tenants already on board at Galeria Victoria include Carrefour, Media Expert, Cinema City, Martes Sport, Empik, Deichmann, Rossmann, SIZEER, Scotch & Soda, Reporter, 5.10.15, Vision Express, Big Star, TARANKO, Altero, Solar, Megapunkt, Wójcik, Apart, Everest, Pierre Cardin, Pawo, Gatta, Yes, Greno/Mituu, Choco Cafe, Triumph, MARHABA, Willsoor, Sferis, Sping, Orange, Inmedio and Swiss. World-leading commercial real estate consultants, CB Richard Ellis, are acting as investment and leasing advisor, and are responsible for leasing the mall. Galeria Victoria is a unique shopping mall in terms of design, location and gross area. It has been designed to revitalize a hitherto neglected part of the city center, creating a new public space and focal point for the community, with additional functions such as open-air concerts in the amphitheater in summer and the ice-skating rink planned for the winter months.
Park Handlowy Eden, Zgorzelec
Located at 40, Jeleniogórska Street, in the Łagów suburbs of Zgorzelec, at the main crossroad, with important roads giving access to the town, Park Handlowy Eden houses 29 shops with well-known brands, home furnishing outlets, as well as restaurants and cafés. The mall was opened in May 2008. The total value of the investment is 16.8 million. The total area of the mall is 9,942 m², with a GLA of 8,500 m². The gallery is located next door to a Leroy Merlin DIY centre and Galeria Słowiańska shopping mall, together constituting a vital and diverse shopping area. Due to numerous road and railway border crossing points with Germany and the Czech Republic, Zgorzelec is willingly visited by the inhabitants of Görlitz on the German side of the border, taking advantage of lower prices. A special bus line operates in the city center of Zgorzelec. The circular line begins at the Postplatz in Görlitz, carrying passengers from both the German and Polish parts of the town to the shopping complex. The mall’s tenants include Media Expert, Jysk, Komfort, Takko, Abra, Meble Hel, Pepco, Martes Sport, Ambra, Sphinx, Kolporter, Reporter, Big Star, Pabia, Komputronik, Mohito, Coccodrillo and Yes. KPP Retail’s role includes co-development and acquisition, with Development Solutions in the project management role. The center is currently managed by Master Management.
Located only approximately 3 km from the city center of Chelm at 82, Lwowska Street, the one-story Graf shopping center, modernized and reconfigured by KPP Retail, houses a Carrefour hypermarket, an Avans electronic store and a shopping gallery with 19 local shops, as well as 150 parking spaces. Graf’s GLA is 4,539 m², and the investment’s total value amounts to 7.5 million. The shopping center was opened in August 2008. The mall is situated close to Kościuszki housing estate, through which runs the densely-populated Wolności Street. The mall’s reconstruction was financed by KPP Retail, with Master Management in the role of leasing agent and property manager. Development Solutions managed the project during the modernization process.