Austrian listed property firm Immofinanz has announced the delivery of a new shopping centre in Poland operated under its Vivo! retail brand.

Austrian listed property firm Immofinanz has announced the delivery of a new shopping centre in Poland operated under its Vivo! retail brand.

The first stage of the Vivo! Stalowa Wola opened this week and includes 22,500 m2 of rentable space over 80 shops as well as 1,000 parking spaces. Tenants include retailers such as Intermarché, H&M, Deichmann, and Media Expert.

Investor Immofinanz is developing the project in joint venture with Acteeum Group, which owns a 14% stake in the development. The partners expect to complete the second stage of 10,000 m2 by summer 2016. In total, the project represents an investment of aronud €44 mln.

'With Vivo! we have established a retail brand whose size, focus and offering are ideal for medium-sized cities with a catchment area of at least 200,000 residents. The focus here is on fashion and entertainment with strong anchor tenants,' said Immofinanz's COO Dietmar Reindl. 'Our plans call for the further expansion of Vivo! as well as our Stop.Shop retail park chain in Central and Eastern Europe.'

Immofinanz has recently been refocusing on the office and retail sectors while trying to exit its residential and logistics Investments. Earlier this week the company announced it has agreed the sale of its entire logistics Platform to Blackstone’s European logistics arm for €508 mln.