Morley Fund Management and Parkridge have launched a €425 mln fund to develop and invest in the Polish retail sector. The Centaurus Fund will be invested in provincial shopping centres in towns with populations over 100,000.
Five shopping centres are planned, one of which is already under construction in Rybnik and scheduled to open by Christmas 2006. The centres will have a minimum gross lettable area of 12,500 m², and will house tenants such as Media Markt, H&M, Zara, Reserved, Vision Express, Boss, Alma, Multikino and Cinemacity. The five sites have already been bought and in total measure 167,000 m². Parkridge envisage that the Centaurus Fund will eventually reach as much as €750 mln over the next 5 years.