European investor Resolution Property is to present its plans during the annual MAPIC retail property fair in Cannes for a major expansion of the Galeria Pomorska Shopping Centre. Resolution acquired the shopping centre in Bydgoszcz, Poland earlier this year through its Resolution Fund III.
European investor Resolution Property is to present its plans during the annual MAPIC retail property fair in Cannes for a major expansion of the Galeria Pomorska Shopping Centre. Resolution acquired the shopping centre in Bydgoszcz, Poland earlier this year through its Resolution Fund III.
The expansion proposals see the Carrefour-anchored Galeria Pomorska grow by 50% to over 45,000 m2 of retail and leisure space with a further 1,000 car parking spaces to be added.
Since acquiring the property in May the new owner has been refining the expansion proposals with long-standing asset manager and development adviser, Balmain Asset Management and Jones Lang LaSalle.
Commenting on the plans, Shane Scott of Resolution Property said: 'Our proposals to expand Galeria Pomorska have been carefully considered in order to complement the existing, established centre and to concentrate the anticipated increase in footfall into a single level layout which maximises the number of customers passing by the retailers’ shopfronts.'
'We believe the additional space provided represents a sustainable increase in retail floor space provision in the city of Bydgoszcz matching retailer demand. We expect to see the expanded centre open in 2013.'
