KPP receives building permit for Galeria Victoria (PL)

Keen Property Partners Retail, the developer of Galeria Victoria entertainment and retail center in Walbrzych, has received the building permit, enabling construction work to begin. The grand opening of Galeria Victoria is planned for spring 2010.

Galeria Victoria will be the first modern retail, entertainment, residential and hotel complex in Wa³brzych and the surrounding region, bringing the first multiplex cinema (Cinema City), restaurants and cafés and many highly-desired Polish and international retail brands to the city for the first time. At the moment the shopping mall is approximately 40% leased. Tenants already on board at Galeria Victoria include Carrefour, Media Expert, Cinema City, Martes Sport, Empik, Deichmann, Rossmann, SIZEER, Scotch & Soda, Reporter, 5.10.15, Vision Express, Big Star, TARANKO, Altero, Solar, Megapunkt, Wójcik, Apart, Everest, Pierre Cardin, Pawo, Gatta, Yes, Greno/Mituu, Choco Cafe, Triumph, MARHABA, Willsoor, Sferis, Sping, Orange, Inmedio and Swiss. World-leading commercial real estate consultants, CB Richard Ellis, are acting as investment and leasing advisor, and are responsible for leasing the mall.

"I am glad to announce that the development process of Galeria Victoria is progressing as planned and, having been granted the building permit, we are now ready to begin construction. This means that we are on schedule to open this exciting new focal point for the city of Wa³brzych in spring 2010," said Richard Keen, Managing Director at Keen Property Partners.

The two-storey mall will house a Carrefour hypermarket (4,600 m²) and approximately 180 shops, giving the people of Wa³brzych access to well-known and popular clothing brands, a home furnishing outlet (7,000 m²), the Media Expert electronics store (approximately 2,500 m²), and other services located in a retail area of over 43,000 m². In the recreation zone (2,500 m²), the mall's customers will find a modern Cinema City multiplex cinema with seven screens, and a wide range of restaurants, snack bars and coffee shops. 1,390 underground and ground parking spaces will be created for customers with cars.

Galeria Victoria is a unique shopping mall in terms of design, location and gross area. It has been designed to revitalize a hitherto neglected part of the city, creating a new public space and focal point for the community, with additional functions such as open-air concerts in the amphitheater in summer and the ice-skating rink planned for the winter months. The mall will be developed by Keen Property Partners Retail, who specializes in the acquisition and development of local and regional retail centers, a sector with high growth potential. The development has been designed by award-winning architects Chapman Taylor. Apart from the beauty and uniqueness of the building itself and its location, the planned hotel and residential elements of the project make it a very attractive location for retailers to expand their customer base. The value of the investment will be €75 million. The planned hotel and residential elements of the project will cost a further of approximately ²20 million.

Source: Questia

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