Pasaż Chełmiński acquired by LCP
Pasaż Chełmiński, modern retail park, in the main shopping area in Chełmno, has been sold by TUF Real Estate to LCP Properties. Avison Young investment team represented the buyer in the transaction.
Pasaż Chełmiński is a modern retail and service complex of three buildings developed in November 2019 and located at 18 Polna street in Chelmno. It offers ca. 5,800 square metres of GLA and provides 170 parking places. Currently it is fully let to the Polish and international chain brands such as: Pepco, Rossmann, CCC, Martes Sport, KIK, Media Expert, Dealz, Gzella, PLUS GSM, La Dama boutique, bank desk – BS Toruń and a grocery store Biedronka.
Pasaż Chełmiński constitutes the first TUF Real Estate investment in the real estate market. The second project – Pasaż Warmiński – is currently under construction with scheduled delivery by the end of 2020.
“We are satisfied that we are disposing to the new owner this modern property, fully commercialized, which will serve the local community for years. For us, as a developer, it is crucial that the buildings we deliver are functional. Therefore, we put a lot of effort in choosing appropriate land for our investment projects. We target smaller cities, where such retail concepts would respond to shopping needs of the local community. Apart from Pasaż Warmiński, which is currently under construction, we have already started preparations and commercialization in Golub Dobrzyń, which will be delivered in 2021. We actively work on two subsequent locations, which will come to the market still in 2020.”
– comments the transaction Fabian Eryk Barbarowicz, Managing Partner at TUF Real Estate Polska
“Pasaż Chełmiński is a longterm investment for LCP Properties, in line with the business strategy of the fund. Pasaż will greatly fulfill our portfolio of retail properties located in smaller cities all over Poland. We plan further investments in retail parks, office properties and in-town warehouses, as our goal for the coming years is to double the volume of assets in our portfolio in Poland.”
– adds Krystian Modrzejewski, Country Manager Poland w LCP Properties
12 Mar 2020 r.