Resolution Property to extend recently acquired Galeria Pomorska in Bydgoszcz (PL)

At the annual MAPIC retail property fair in Cannes, European investor Resolution Property unveiled its proposals for a major expansion of the Galeria Pomorska Shopping Centre in Bydgoszcz which it acquired earlier this year through its Resolution Fund III. The expansion proposals see the Carrefour anchored Galeria Pomorska grow by 50% to over 45,000 m² of retail and leisure space with a further 1,000 car parking spaces to be added.

galeria pomorska

The center will be extended to over over 45,000 m².

Since acquiring the property in May the new owner has been refining the expansion proposals with long-standing asset manager and development adviser, Balmain Asset Management and leading Polish retail leasing agent Jones Lang LaSalle.

Commenting on the plans, Shane Scott of Resolution Property stated, "Our proposals to expand Galeria Pomorska have been carefully considered in order to complement the existing, established center and to concentrate the anticipated increase in footfall into a single level layout which maximizes the number of customers passing by the retailers' shop fronts. We believe the additional space provided represents a sustainable increase in retail floor space provision in the city of Bydgoszcz matching retailer demand. We expect to see the expanded center open in 2013."

Edyta Potera of Jones Lang LaSalle, exclusive agent responsible for re-commercialization process added, "There is a strong level of tenant interest in the extension from a wide market spectrum including retailers long-established in the Polish market, new international entrants and from existing tenants keen to consolidate their position in an established and successful shopping center in Bydgoszcz."

Galeria Pomorska is strategically located on Fordonska Street, the city's main east-west thoroughfare, which ensures easy access from all parts of the city. This is complemented by the centre's existing strong public transport links via the City's bus and tram network.

Source: JLL

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