Caelum and Futureal team up on EUR 70m Polish project

Irish investment group Caelum Development and Hungarian developer Futureal signed a joint venture agreement to develop Nova Park project in Gorzów Wielkopolski. Nova Park represents an investment of over EUR 70 mln.

The 32,400-m² area of gross leasable area (GLA) will house 150 units. Additionally, a free parking area with 910 car spaces will be available. Nova Park will be the biggest shopping centre in Lubuskie Voivodeship, located in the centre of its capital, Gorzów Wielkopolski.

The Gallery is currently 62% leased. Among tenants there are several brands that have not been present on the local market yet, including H&M, MK Bowling, Intersport, SuperPharm, Smyk, Kappahl, Fielmann and others. Additionally, retailers such as Piotr & Pawe³, C&A, Triumph, Deichmann, Empik, CCC, Apart, Wojas and many others have already signed the lease agreements.

Nova Park will be opened in the first quarter of 2012.