Acquisition of Bydgoszcz Shopping Centre
- New Europe Investor
- October 06, 2014
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.