Stage Capital has successfully divested Galeria Nad Jeziorem, a 21,000 m² shopping centre in Poland, to German property investor Saller Group in a transaction that underscores growing appetite for well-positioned retail assets across Central Europe.
The shopping centre, which opened in 2002 and underwent extension in 2018, has established itself as a dominant retail destination in Konin, anchored by Carrefour and featuring tenants including Bricomarché, Martes Sport, Sinsay, Rossmann, Pepco, CCC, and Euro RTV AGD. A large Helios cinema enhances the property's entertainment offering, contributing to its appeal as a comprehensive retail and leisure destination.
Avison Young served as exclusive sales agent for the transaction, with Wolf Theiss providing legal advisory services. The property has been managed by Balmain Group, which provided comprehensive asset management, property management, technical and leasing services throughout Stage Capital's ownership period.
"We acquired Galeria Nad Jeziorem with the intention of executing a clear business plan, particularly improving the tenant mix. We were pleased to successfully do this, including renewing a revised format Carrefour, introducing popular tenants such as Sinsay and developing plans to extend the scheme, all to the benefit of the local community," commented James Huckle, Partner at Stage Capital. "In 2024, Galeria Nad Jeziorem welcomed 2.8 million customers, and has experienced stable footfall growth in recent years. We are confident that we are passing on a well-maintained shopping centre, having made significant efforts in its development, to the new owner."
The transaction highlights a critical trend often overlooked by investors: the resilience of neighbourhood-dominant retail assets in secondary Polish cities, where limited competition and strong local demographics create defensive investment characteristics that major institutional players frequently undervalue in favour of prime metropolitan locations.
"Galeria Nad Jeziorem is a well-performing shopping centre dominant in its neighbourhood. It is fully leased to renowned tenants, ensures consistent footfall and stable revenues, but most importantly, creates a vibrant shopping destination for the inhabitants of Konin. This transaction demonstrates that there is a strong market interest in acquiring well-performing retail assets, as long as they create an attractive shopping place for the local community," noted Michal Cwiklinski, Regional Manager for the EMEA Region at Avison Young.
People mentioned:
- James Huckle, Partner, Stage Capital
- Michal Cwiklinski, Regional Manager EMEA Region, Avison Young
Companies mentioned:
- Stage Capital (seller) - Independent private equity firm
- Saller Group (buyer) - German property investor
- Avison Young (advisor) - Exclusive sales agent
- Wolf Theiss (advisor) - Legal advisor
- Balmain Group (property manager) - Asset and property management services
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