Valad Europe is in advanced negotiations with Unibail-Rodamco to create a joint venture partnership that will redevelop and add 50,000 m2 of gross leasable area to the Krokus shopping centre in Kraków, Poland.
Valad Europe is in advanced negotiations with Unibail-Rodamco to create a joint venture partnership that will redevelop and add 50,000 m2 of gross leasable area to the Krokus shopping centre in Kraków, Poland.
Located in the north eastern part of Kraków, Krokus mall currently has a total GLA of 30,000 m2.
'The planned extension will increase the GLA to around 80,000 m2, transforming the centre into a state-of-the-art shopping centre and one of region’s prime retail destinations,' said Thierry Leleu, Valad Europe’s head of funds management.
Krokus Shopping Centre is part of Valad Europe’s Polish Retail Fund, a closed ended fund comprising six high quality shopping centres and three hypermarkets, totalling 300,000 m2, located in seven Polish cities including Warsaw, Kraków and Wroclaw.
The retail sector represents 20% of Valad Europe's total of €4.3 bn of assets under management.
