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Acquisition of Bydgoszcz Shopping Centre

A major shopping centre in Bydgoszcz, Focus Mall has been acquired by a leading retail real estate operator in Central and Eastern Europe.

The mall has been acquired by Atrium European Real Estate Limited, who has a portfolio of €2.5 billion worth of property primarily in Poland, Czech Republic and Slovakia. They also have interests further afield in Russia, including a €400 million land bank spread out across the regions.

It boasts 77% of its property to be in A or above sovereign rating countries.

The price thought to have been paid for 41,000 m² shopping centre that was built in 2008 and houses Saturn, Cinema City and other global brands such as H&M, New Yorker and Pull & Bear is €122 million.

The transaction means that 55% of revenue from the Jersey operated company will come from Poland.

The deal will go through at the end of this year assuming approval by monopoly authorities.

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