ING Real Estate Investment Management has acquired the 6,500 m[sup]2[/sup] shopping gallery in the established King Cross Shopping Centre Praga in Warsaw, Poland, for nearly EUR 40 million. The property was acquired from the centre's developer and manager, King Cross Group from Italy.
ING Real Estate Investment Management has acquired the 6,500 m2 shopping gallery in the established King Cross Shopping Centre Praga in Warsaw, Poland, for nearly EUR 40 million. The property was acquired from the centre's developer and manager, King Cross Group from Italy.
King Cross Shopping Centre Praga, on the right bank of the river Vistula, opened in 1996 and has a gross lettable area of some 24,000 m2. This includes a hypermarket owned by a third party. The shopping centre co-owns 1,350 parking lots with the hypermarket operator. The gallery footfall in 2005 was around 7 million visitors.
The shopping centre is fully leased and its main tenants are Reserved, Wrangler, Monnari, Levi's, Yves Rocher, PKO Bank, Orsay, McDonald's, Camieau, Ecco, Vission Express and Sephora.
