March 2021

Investors have not written off Shopping Centres

Chariot, a company managed by Griffin Real Estate, has sold four retail parks located in Olsztyn, Opole, Kielce, and Tychy to EPP. This is the third and final phase of a transaction that started in 2018. Even though the recent €106m deal results from arrangements made three years ago, it shows that investors have not written shopping off centres despite the current difficulties caused by government restrictions. As noted by Penteris Senior Partner Andrzej Tokaj, retail parks are among the best performing commercial properties. “One of the advantages of older facilities, such as those acquired by EPP, is the fact that they already have a loyal customer base. On the other hand, they are likely to require some modernisation to bring them up to standard,” he adds.

Full article to be found in Puls Biznesu.