Katharsis Development has sold HopStop, convenience retail park in Siedlce, Poland, to LCP Properties. The retail park comprises 4,900m² GLA and was opened in 2019. It is located 2 kilometres from the centre of Siedlce at Partyzantów Street and is easily accessible by private and public transport. The retail park is 100% leased to such notable tenants as Lidl, Hebe, Pepco, Media Expert,Kik, Rossmann, including Orlen petrol station within the complex. The purchase price was not disclosed.
"Behind HopStop’s success stands the whole team of Katharsis Development, especially Anna Lech and Paulina Żur. We are proud that another HopStop retail park has been acquired by the international investment fund. This proves – especially in current pandemic circumstances – high quality of HopStop development projects delivered by Katharsis Development; our retail park has been open all the time and the number of customers shopping there was breaking records. This transaction is also a result of long-lasting and great cooperation between myself and Michał Ćwikliński from Avison Young. This cooperation has started a long time ago, with the beginning of Katharsis Development activities in the market, lasts, and I am convinced it will result in subsequent great transactions closed together in the future,“ commented the disposal Rafał Trusiewicz, President of the Board at Katharsis Development.
"HopStop in Siedlce is a subsequent convenience retail asset purchased by our fund in Poland. Regarding the retail sector, we target locations Poland-wide, with great accessibility for the local community. We plan further purchases still in 2020. Our goal is to increase our commercial real estate portfolio in Poland by another €150m within twelve months," said Krystian Modrzejewski, Country Manager Poland, LCP Properties.