Resolution Property has acquired an 80% stake in the Supersam shopping centre in Katowice, Poland. The deal is part of a EUR 60 mln joint venture with Prime Properties Company, which is part of the Warsaw-based Centrum Development and Investments Group.
Resolution Property has acquired an 80% stake in the Supersam shopping centre in Katowice, Poland. The deal is part of a EUR 60 mln joint venture with Prime Properties Company, which is part of the Warsaw-based Centrum Development and Investments Group.
The 21,000 m2 Supersam shopping centre is under construction and due to open in 2013. The centre will target retailers operating within the affordable fashion market. Located in the city centre, Supersam will also offer a range of leisure and entertainment facilities, including a Multikino cinema.
The joint venture between the two companies follows a series of partnerships in which Resolution is the lead investor and asset manager, working alongside a partner with strong local knowledge who provides day-to-day management.
In a separate move, Resolution plans to upgrade and extend Galeria Pomorska shopping centre in Bydgoszcz. Resolution acquired the shopping centre for just under EUR 51 mln in 2010. The programme will begin in 2012 with refurbishment works to the centre's food court and will continue with an upgrade of the main fashion mall.
Following the revamp, Resolution plans to invest in excess of EUR 25 mln in the extension, which would see the centre grow by 8,300 m2 of GLA, taking the overall size to 40,000 m2.
