Galeria Askana, a 20,000m2 shopping centre in Gorzow Wielkopolski has been sold to an SPV headed by Irish investor John Patchell. With the help of CREAM Property Advisors, the investor has created a business plan for the project that aims to double the property value over a period of 2-3 years.
John Patchell said “What enchanted me about Galeria Askana was its excellent location, high level of commercialisation, unique design and its timelessness. This place was created with the residents of Gorzów in mind, so I am open to working with local entrepreneurs so that they can realise their dreams with us. I am looking forward to working with the tenants and our joint activities. Askana is a place that is an integral part of the city's community. I want every resident of Gorzów and its surroundings to feel at home in Askana. I am glad that I will be implementing the development strategy of the centre with such an experienced asset manager as CREAM Property Advisors.”
Grzegorz Mroczek, Vice President of CREAM Property Advisors added: “CREAM Property Advisors have prepared and started implementing a business plan in close co-operation with John for the centre. We are aiming to achieve a significant reduction in operating costs, which in the current market have a huge impact on the value of retail projects. The plan also includes a focus on energy efficiency in combination with ESG and other green solutions that are necessary today. Galeria Askana is a favourite centre for the residents of Gorzów, and the new investor means new opportunities, ideas and plans for the development of the facility.”
