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Meyer Bergman Fund Takes Full Control of Shopping Centre in Heart of Poland's Katowice

30/11/2015

A fund advised by property investment manager Meyer Bergman has taken full control of Galeria Katowicka, the award-winning shopping centre that it developed with Neinver and Poland's state railway company PKP SA in Katowice, the regional capital of Silesia.

Meyer Bergman European Retail Partners entered into a 50/50 JV with Neinver to develop the scheme in late 2010 alongside PKP, which contributed the land in the venture. The fund purchased an additional 30% stake in the JV in 2012 It has now acquired the remaining interest from Neinver and PKP for an undisclosed sum.

The €240 million redevelopment opened in September 2013 as part of Katowice's programme to regenerate its city centre and offers 47,500 m2 of retail space with direct access to the main railway station and the new underground bus station.

Mark Gamble, Meyer Bergman's Head of Asset Management, said: "Since opening, Galeria Katowicka is well on its way to becoming a high performing asset that will appeal to institutional investors who are looking for exposure to one of the strongest growth markets in Europe. The centre's location at the heart of the city and integration into the regional capital's main transport hub, the second busiest after Warsaw, are undeniable attractions to leading brands and the growing numbers of visitors."

Occupying the centre's 200 stores, restaurants and cafés are brands including Peek & Cloppenburg, Zara, TK Maxx, Multikino, C&A, Reserved, Euro, Douglas, and Tiger. Monthly visitor numbers are up 18% year to date (YTD), with annual visitors now reaching 13 million, while tenants retail sales have risen 18% YTD.

Meyer Bergman has appointed Apsys Poland as Galeria Katowicka's property manager overseeing daily operations and leasing.
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