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C&W appointed by Spirit International in Poland
25 Jun, 2008, Elbląg
Global real estate consultant Cushman & Wakefield has been appointed as the exclusive agent by Irish company Spirit International Poland for the leasing of a new shopping centre in the Polish city of Elbląg.
The €90mn shopping centre is being designed by international architects Douglas Wallace. Construction will start at the end of 2008/beginning of 2009, and the works are scheduled for completion by the middle of 2010.
The 50,000 sq m of gross leaseable area will include a hypermarket, DIY store, home electrical store and a 20,000 sq m mall with retail and restaurants. The centre will have a total of around 100 retail and restaurant units.
Elbląg benefits from a good connection with the Warsaw-Gdańsk A7 motorway. The city is situated 60km from Tricity and 50km from the Polish-Russian border. Elbląg has 130,000 inhabitants and still lacks modern retail development.
The investor behind the new scheme is one of the investors in the award-winning Dundrum Town Centre in Dublin, Ireland. The retail complex received a Merit Award at the International Council of Shopping Centres Design and Development Awards in the US. The Dundrum Town
Centre hosts some of the world’s leading retailers such as Harvey Nichols, House of Fraser, H&M and Boots.
John Donnelly, CEO of Spirit International, says: “We are very excited about this development in Elbląg. It is a thriving city that still lacks a modern retail centre. Our discussions with retailers have been even better than we expected and the leasing of units will be a fast process.”
Marek Noetzel, Associate of the Retail Department of Cushman & Wakefield in Poland, says: “In our opinion, there is room for a modern retail development in a city of Elbląg’s size and potential. Its location by the main road between Warsaw and Gdańsk makes this investment very attractive. Our idea is to create a regional mall that dominates the market in the region.”
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