Newgate Investment planned and implemented the processes of reconstruction and recommercialization of the former Outlet Bialystok project located in Bialystok at 67 Wysockiego Street with an original GLA of 13,336m2. The new Wysocki Retail Park is a result of the changes with the area of the facility increased by over 3,000m2 and the NOI level increased by c. 70%. Redevelopment projects initiated by Newgate Investment began in 2021. The final stage is currently underway. Newgate Investment manages a real estate portfolio consisting of 30 commercial facilities with a total lettable area exceeding 126,000m2. The rental level of the property is close to 100%.
As a result of the changes introduced by Newgate Investment, not only the architecture and shape of the retail park located in Bialystok at 67 Wysockiego Street changed, but above all, the commercial offer of the property took on new forms and was adapted to the expectations of local communities.
"Based on the extensive experience of Newgate Investment teams, which provides comprehensive solutions for its investors in the field of investment management, asset management, leasing and property management, we have prepared a project that is as tailored as possible to the potential of the location and market expectations for the benefit of all target groups: investors, tenants and local residents. Current tenants of Wysocki Park include Carrefour, Media Expert, KiK, Action, Sinsay, TEDi, CCC, Takko, Maxi Zoo, Rossmann and Guess. By recognizing the needs of local consumers, we were able to offer tenants new opportunities tailored to the market potential. At the same time, we have reduced the level of operating costs related to the operation of the facility. Preparing space tailored to the needs of tenants and taking into account, among others, the preferences and purchasing power of local residents allows tenants to optimize both the format of the store or service point, as well as the offer, and this directly translates into sales results," said Robert Dudzinski, Head of Asset Management at Newgate Investment.
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