Echo Investment is to build Outlet Park Szczecin on Struga street in Szczecin, which will be the first facility of this type in the Pomeranian province.
"Since the time when the first concept was developed, we have carried out a professional assessment of the changing market situation. We have established that an outlet center will address the demand and fill in a market niche in this region of the country.
"We have a great location at our disposal with a reach of over 2.2 million people, we have financial resources reserved and we cooperate with teams of designers and consultants who are experienced in the field of outlet centers," says Marcin Materny, Shopping Center Sales Director at Echo Investment SA.
The leasable area of Outlet Park Szczecin will amount to over 23,000 m². Customers will have 1,400 parking spaces at their disposal. The Outlet Park will be developed in three stages. In stage one there will be a shopping gallery built with a leasable area of approx. 9,000 m², including 60 retail outlets, in second stage will comprise 10,000 m² and the third approx. 4,000 m². There will be between 120-130 tenants in the whole facility.
The market for outlet centers in Poland is still a very young business. Because of the specificity of outlet center activities the number of developers specializing in this type of projects remains small.
"The pool of tenants interested in running their business in outlet centers is not without importance. The sector will reach the level of relative saturation in the next few years and a sudden growth in leasable area in this sector is not to be expected. Our research has shown that in the current situation Szczecin is ready for another format of a shopping facility such as an outlet center. Also the change of tenants' perception of Szczecin is not without importance, for whom Szczecin has become another place to develop their chains in. Commercialization of the Outlet Park has not started yet but the project enjoys a lot of interest," says Magda Fratczak from CB Richard Ellis, the company cooperating with the commercialization of the center.
The architectural concept of Outlet Park Szczecin was created in Vsf Creative architectural studio. The first stage of the project will be launched in Q1 2011. The project is due to be completed in Q4 2011.
Source: ECHO INVESTMENT S.A.