Poland: LaSalle purchases Futura Retail Park

Encore+ are being represented by LaSalle Investment Management (LaSalle) as they look to expand and have made Futura Retail Park the first part of that plan. Wroclaw, the second most affluent Polish city, is the home of the retail park and has been taken over in a deal thought to be worth around €27 million. This acquisition comes as good news for the whole of Poland as it is further proof that many companies have faith in the Polish market and see the country as a good investment opportunity.

The retail park is made up of over 20 units, has nearly 20,500 square meters of space and is currently anchored by Carrefour. It is also in a prime location close to both the ring-road and the airport making it accessible to all. LaSalle have clearly defined their goals in recent months and are following them through with confidence having already targeted Czech Republic in addition to Poland as future investment opportunities as their Gross Domestic Product (GDP) continues to rise. Encore+ itself are a real estate fund on a continental scale that have been co-managed over the past 10 years along with Aviva Investors and LaSalle.

Chief Investment Officer for Continental Europe at LaSalle, Andy Watson, has said “This acquisition demonstrates our strategy of investing in stable, well-consolidated shopping centres across the continent. Central Europe is a relatively new market for LaSalle but we believe this is an exciting region and we are convinced that there are opportunities in retail in Poland and elsewhere that will support the aims and strategies of our clients.”

Head of Central Europe at LaSalle, Chris Zeuner, says “In the current economic environment, investors naturally need to seek out markets which provide the appropriate combination of risk and return to meet their requirements. Poland will therefore be one market they need to consider. The Futura Retail Park is located in one of the wealthiest regions of Poland, one which gives good prospects for a strong return on investment.”

Fund Manager for Encore+ at Aviva Investors, Gil Bar, has said “This acquisition adds another country to the Encore+ funds diversified exposure across Continental Europe. We see this as an excellent opportunity to capture both cyclical and structural growth and we continue to consider Poland as a good country for further investment.”

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