Meyer Bergman, the European retail specialist real estate investment management firm, and Neinver, one of Europe's leading retail developer and asset managers, announce they have secured another important anchor tenant with over 3,800 m² let to Peek & Cloppenburg at Galeria Katowicka, the 200 million retail-led mixed-use development at Katowice railway station in Poland. As a result of the letting, the development is now over 80% pre-let ahead of its anticipated completion in Q3 2013.
The Peek & Cloppenburg Group has been at the forefront of fashion for more than 110 years, bringing the catwalk to the high street. At Galeria Katowicka, Peek & Cloppenburg will be the scheme's largest tenant and provide its full offer on three floors totaling over 3,800 m². This will be Peek & Cloppenburg's tenth store in Poland, having first opened in the country over ten years ago.
Galeria Katowicka, centered on the city's main square, is a three-phase project which is part of a major redevelopment and renovation of the Katowice railway station and bus terminus. The scheme is over 70% owned by Meyer Bergman's first fund, Meyer Bergman European Retail Partners I. Construction commenced in December 2010 and Phase I concluded on 25 October 2012 with the delivery of the new, state of the art railway station.
Phase II, the redevelopment of the bus terminus, is also complete and officially opened on February 1, 2013. The final phase, which comprises the delivery of a circa 250-store modern shopping center with over 48,000 m² of gross leasable area and up to 1,200 city center underground car parking spaces, is expected to be completed in Q3 2013.
As the region's main transport hub, Katowice railway station and bus terminus will have 520 trains passing through daily and around 12 million visitors per annum. Katowice is the commercial center of the Silesia region in southern Poland, one of the most populous areas in the country. It provides a strong catchment area for the shopping center, with approximately 330,000 inhabitants within a 10-minute drive and in excess of 2.3 million people within a 30-minute drive time.
Upon completion, the scheme is expected to be the dominant city center retail provision for Katowice, an area that is not only undersupplied in terms of retail, but also has a strong local economy with a higher affluence level than the Polish national average.
Cushman & Wakefield is the sole agent responsible for leasing retail space in Galeria Katowicka
Mark Gamble, Head of Asset Management at Meyer Bergman commented: "The letting to Peek & Cloppenburg as an anchor tenant at Galeria Katowicka is a real endorsement of the scheme. Its location as a transport hub offers a compelling place for retailers to trade and this letting also confirms our view that we are securing the optimal tenant mix for the development. We believe this letting will help to attract further premium tenants to the development as we look forward to completing the final phase of construction during 2013."
Agata Brzeziñska, Country Manager at NEINVER Poland added: "When we developed the leasing strategy for Galeria Katowicka, we decided to adapt its offer to the needs of all groups of customers who will be visiting it. Due to the diverse range of brands available from Peek & Cloppenburg, Galeria Katowicka will be an appealing shopping venue for everyone, providing a comprehensive array of clothing brands."
Source: FTI Consulting
