Atrium European Real Estate Limited, one of the leading real estate companies focused on shopping center investment, management and development in Central and Eastern Europe, announces that it has agreed to develop a 20,000 m² hypermarket for Auchan, the French international retailer, at its new Felicity retail development at Lublin in Poland. Atrium's Polish subsidiary, Centrum Handlowe Felin Sp z.o.o., and Auchan Polska Sp. z o.o., have signed a letter of intent whereby Atrium will develop and subsequently sell the hypermarket to Auchan on its completion.
The Felicity Mall, which is currently under development and is due to be opened in 2013, is located on the Eastern side of Lublin at the intersection of Wincenty Witos Street and Grzybowa Street. It is being built on a 17 hectare site and will offer almost 74,000 m² of retail space including the Auchan hypermarket. Once complete, Felicity, which is also the first major development Atrium has commenced since the economic crisis began in 2008, will provide customers with a new, modern shopping centre offering around 150 shops, a cinema and a DIY store.
Commenting on the agreement, Rachel Lavine CEO of Atrium said: "Lublin is an important project for Atrium and this latest partnership with Auchan is a great endorsement of our scheme as a new retail destination and of the potential for retail development in the city. It is particularly encouraging to broaden our long standing relationship with Auchan into new territories. Felicity continues to attract interest from many other international and Polish retailers and we believe that Auchan as hypermarket anchor, further complements the existing strong line-up of tenants."
Source: FD
