London & Cambridge Properties has bought three Polish shopping malls for a total of €67m in the cities of Radom, Tarnów and Piotrków Trybunalski.
Vendor Echo Investment signed preliminary sale agreements with the London-based property firm in December and the deal completed in April.
The 19,500 m2 Radom shopping centre is located on Zólkiewskiego Street, while the 20,200 m2 Tarnów mall is in Blonie Street. The 17,400 m2 Piotrków Trybunalski scheme is located in Sikorskiego Street. All three properties are anchored with Real hypermarkets and Nomi DIY stores.
James Fife, LCP’s managing director for Poland, said: “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.”
Michal Cwiklinski, head of investment at Savills in Poland, which advised the buyer, said: “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, and CCC, among others.”
