ING Real Estate appoints Cushman & Wakefield to manage Zlote Tarasy in Warsaw, Poland (PL/UK/NL)

ING Real Estate, part of the ING Group, the Dutch-based banking, insurance and financial services provider has appointed international property consultant Cushman & Wakefield to manage the 225,000 m² Zlote Tarasy development in Warsaw, Poland.

Zlote Tarasy, one of Central Europe's highest-profile developments, will open on the 7th of February. It includes 63,500 m² of retail, an eight-screen cinema, and 45,000 m² of offices, and has a catchment area of 900,000 people within a 15 minute drive-time.

The scheme is situated in a unique location, in the heart of Warsaw, next to Warsaw Central Station and the Palace of Culture and Science. At MAPIC 2005, Zlote Tarasy's attractive and innovative architectural design by The Jerde Partnership won the title of Best Large Retail Development Scheme.

ING Real Estate started the scheme in mid 90s as a catalyst for the central area. 100% of the retail space is leased with tenants including Marks & Spencer, Van Graaf, Zara, H&M, Hugo Boss, Mexx, New Yorker, Next, Intersport, Albert, Saturn, Stradivarius, Bershka, Pull and Bear, Hard Rock Café, as well as Polish retailers Royal Collection, Empik, Smyk, Almi Decor and cinema operator Multikino.

Marcel Kooij, President of the Zlote Tarasy Management Board and Associate Director of ING Real Estate Development, says: "Zlote Tarasy has not only become a landmark in the center of Warsaw, but it is also one of the key mixed-use schemes being developed in Central Europe. Cushman & Wakefield was a natural choice when it came to appointing a management agent given the firm's experience of managing first-class retail and office schemes across Europe as well as its local expertise in Poland."

Cushman & Wakefield's Warsaw office has been responsible for the property management set-up of Zlote Tarasy over the last five years, as well as the leasing of the scheme and advising ING Real Estate on the development.

Richard Petersen, Head of Cushman & Wakefield Poland, says: "We will be bringing to Zlote Tarasy our experience from managing a total of five million square metres of property across Europe, and delivering in excess of 11.8 million square metres of new retail space across Europe in the last five years."

Source: Cushman & Wakefield

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