Helical Poland, a unit of UK real estate group Helical Bar, has entered into a forward funding agreement with Standard Life for its latest retail development in Opole, Poland. Standard Life has agreed to provide EUR 70mln of equity for the construction of the Turawa retail park, located 40km to the East of Wroclaw. The 36,000 m[sup]2[/sup] park will be anchored by the Carrefour Group and a Praktiker DIY store and will comprise 10 retail warehouse units and a retail gallery. Construction is due to start next October 2008, with completion expected in September 2009.
Helical Poland, a unit of UK real estate group Helical Bar, has entered into a forward funding agreement with Standard Life for its latest retail development in Opole, Poland. Standard Life has agreed to provide EUR 70mln of equity for the construction of the Turawa retail park, located 40km to the East of Wroclaw. The 36,000 m2 park will be anchored by the Carrefour Group and a Praktiker DIY store and will comprise 10 retail warehouse units and a retail gallery. Construction is due to start next October 2008, with completion expected in September 2009.
Standard Life secured the site on behalf of its European Property Growth Fund (EPGF). Helical Poland was advised by Savills.
