International real estate advisor Savills has advised local investor PH3 in the acquisition of a 15,000-m² shopping center in Pabianice, on the outskirts of Poland's second largest city, Lodz, for approximately 24 million.
The property was developed by Polish firm Echo Investment in 2002. It is fully let and tenants include Piotr i Pawel, Jysk, NOMI, RTV Euro AGD, Reserved, Rossmann and CCC.
Michal Cwiklinski, Head of Investment Savills Poland, says: "This was a great investment opportunity for PH3 with a lot of upside potential and a very good trading history with strong rent/sales ratios. It is a promising sign that investors are looking further afield and not just focusing on prime assets in Warsaw."