Magnolia Park reports strong results in H1 2012

Magnolia Park in Wroclaw had its best six months since its opening in 2007 with nearly 4.6 million customers visiting the shopping centre, a 5.4% growth in footfall in comparison to H1 2011, and tenant sales revenues increased by 10% compared to the same period last year. Additionally, seven new tenants arrived in Magnolia Park, three stores were refurbished and two changed their location in the mall. Such strong results can be attributed to the new strategy implemented by the centre’s owner, Blackstone Real Estate Group, and Master Management Group, responsible for leasing the retail area and marketing. Magnolia Park was acquired by Blackstone Real Estate Group in July 2011 and has been managed by MMG since October 2011.

The future strategy for Magnolia Park includes a new extension, as well as attracting new tenants and adding unique leisure options in order to ensure the best shopping experience for our customers. It also entails positioning Magnolia Park as a retail destination for all residents of Wrocław. The launch of the next expansion is planned for Q4 2012, subject to required building permits, with completion to take place by the end of 2013. The planned investment program includes an addition of approximately 20,000 m² of GLA, new food court, and new retailers to Wroclaw, making Magnolia Park the dominant shopping centre in the region.

Magnolia Park has attracted a number of new tenants in H1 2012, such as an ECCO footwear store, the Mohito and Top Secret clothing brands, a Parfois store with fashion accessories, a Travel Planet agency, a Redberry yoghurt bar and the Bacówka store offering traditional, organic food. Orange and iSpot points and the Orsay store were refurbished, the CROPP store was enlarged by an extra 100 m², while Denon and Paris Optique stores moved to new locations in the mall. Existing tenants have also shown their commitment to the future of Magnolia Park by signing new lease agreements. These tenants include Denon, Fratelli Marpel, Gatta, Inglot, Inter Sport, iSpot, Kazar, Komputronik, Krakowski Kredens, Mr Minit, Nike, Ochnik, Solar, Street Shoes and Twoje Soczewki. During the last six months Magnolia Park was also the venue of various events, which attracted many residents of Wrocław and the whole region. Large audiences participated especially in attractions prepared as part of the UEFA Euro 2012™ football championships, with fan zones where all the matches could be watched.

„We are greatly satisfied with the results of Magnolia Park in H1 2012 and we expect further growth in the coming months. The increase in footfall proves that our offer is increasingly attractive for Wrocław residents and the events we organize are seen as a fun and interesting way of spending leisure time. We want our centre to be a perfect place for everybody to meet, shop and be entertained,” said Tomasz Waszkiewicz, Director of Magnolia Park.