TUF Real Estate has sold Pasaz Chelminski in Chelmno to LCP Properties. The asset is a modern retail and service complex of three buildings developed in November 2019. It offers c. 5,800m² of GLA and provides 170 parking places. Currently, it is fully let to the Polish and international chain brands such as Pepco, Rossmann, CCC, Martes Sport, KIK, Media Expert, Dealz, Gzella, PLUS GSM, La Dama boutique, bank desk – BS Torun and a grocery store Biedronka. The purchase price was not disclosed.
"We are satisfied that we are disposing to the new owner this modern property, fully commercialized, which will serve the local community for years. For us, as a developer, it is crucial that the buildings we deliver are functional. Therefore, we put a lot of effort in choosing appropriate land for our investment projects. We target smaller cities, where such retail concepts would respond to the shopping needs of the local community. Apart from Pasaz Warminski, which is currently under construction, we have already started preparations and commercialization in Golub Dobrzyn, which will be delivered in 2021. We actively work on two subsequent locations, which will come to the market still in 2020,” commented the transaction Fabian Eryk Barbarowicz, Managing Partner at TUF Real Estate Polska.
"Pasaz Chełminski is a longterm investment for LCP Properties, in line with the business strategy of the fund. Pasaz will greatly fulfil our portfolio of retail properties located in smaller cities all over Poland. We plan further investments in retail parks, office properties and in-town warehouses, as our goal for the coming years is to double the volume of assets in our portfolio in Poland,“ added Krystian Modrzejewski, Country Manager Poland at LCP Properties.
