Bridge Properties acquires NEPH, developer of Siódemka regional shopping center (PL)

Bridge Properties (CEE) Limited, part of Bridgehouse, has acquired New Europe Property Holdings Limited (NEPH), the developer of Siódemka regional shopping center project in the northern city of Elblag, Poland.

Siodemka Elblag

Construction is expected to start on Siódemka in H1 2012.

Bridgehouse, an investment group with significant assets under ownership and management, regards this acquisition as its entry to the Polish property market with a view to successful development.

Siódemka is a regional shopping center development in Elblag, which will comprise circa 67,000 m² of lettable retail space, served by 1,800 parking spaces at ground level. It will comprise a fully enclosed single-floor shopping mall (40,000 m²) and a retail park (27,000 m²). With the new investor in place, construction is expected to start in H1 2012.

Siódemka, designed by international architects Broadway Malyan, will be the first large shopping center in the city and region, bringing many desirable Polish and international retail brands to shoppers from the entire region for the first time.

Source : Questia sp. z o.o. sp. k.

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