Mitiska REIM has announced on behalf of the MEREP 3 fund the acquisition of Europa Centralna, a retail centre covering a gross leasable area (GLA) of 67,000sq m located on a 27ha land plot in Gliwice, Poland.
Europa Centralna is the largest retail scheme in Gliwice, encompassing a retail park with a GLA of 39,700sq m and a galleria of 27,300sq m, with parking for over 2,000 cars. The city of Gliwice is located at the intersection of the A1 and A4 motorways in the Upper Silesia region of southern Poland.
In line with its value-add investment strategy, Mitiska REIM plans to reposition Europa Centralna as a food-anchored convenience real estate asset and improve its ESG credentials so that it can achieve a “Very Good” score on the BREEAM scale.
The retail park and galleria are currently anchored by DIY stores Castorama and Jula, with other tenants including JYSK, Action, Media Expert and Sports Direct and a standalone drive-through McDonald’s restaurant. The centre also has an 8,000sq m GLA convenience leisure offer with tenants such as Funzeum and House of Air. An 11,000sq m space has been available since the conclusion of Tesco’s operations in Poland in 2019, providing a variety of opportunities for new businesses to occupy the space and contribute to the overall success of the site.
Mateusz Szymczak, Mitiska REIM’s Investment Manager for Poland, comments: “There are two million people living within a 30-minute drive of Europa Centralna, with the Upper Silesia region one of Poland’s largest concentrations of industrial space and one of the country’s main centres for business services. This makes Europa Centralna a perfect location not only for convenience retail but also a hub for DIY goods and homeware in addition to leisure facilities.”
