Newbridge, the developer-investor focused on Poland, has acquired a retail park in the city of Wloclawek from a privately held Luxembourg-based investor.
The asset, Focus Park, is located on Komunalna Street in Wloclawek, and was developed in 2011. The single level property consists of 6,500 m2 of retail area with 316 parking lots. Its nine tenants include Media Expert, Rossmann, CCC, Deichmann, KIK and PEPCO.
The investment volume was not disclosed.
'Newbridge are pleased to announce the acquisition of Focus Park in Wloclawek, which fits perfectly into our planned strategy to purchase well located retail parks leased to strong covenants with room for us to add value in the medium term,' commented Rory Mepham, managing director, Newbridge. 'This is our second acquisition following the purchase of a Retail Park in Namyslów.'
BSC Real Estate Advisors provided acquisition support and commercial due diligence. Linklaters advised Newbridge on legal matters.
Newbridge is a wholly owned subsidiary of the Somerston Group, a privately owned investment house established in the 1850s by the group's founding family.
