Henley Investments has purchased its first shopping centre as it enters the Polish real estate market with the acquisition of Galeria Pestka from a global investment manager.
The circa 42,000 sqm (452,000 sq ft) shopping centre in Poznan is a hypermarket-anchored scheme and builds on Henley’s recent retail acquisitions across supermarkets and retail parks. This includes the recent acquisition of Regent Retail Park in Manchester last year.
The multi-story Galeria Pestka has a diverse tenant line-up headed up by international tenants, such as Carrefour and Bricomarche.
Justin Meissel, Chief Investment Officer and Managing Director Europe at Henley Investments, said: “As retail real estate continues to evolve, complementing e-commerce and absorbing the impacts of Covid-19, we believe well-located assets such as Galeria Pestka with a great tenant mix will continue to perform well. Through Henley’s active asset management approach, Galeria Pestka will remain a leading offering in this evolving sector. We are open to further investment opportunities with a similar profile in the UK and select Western European markets.”
Ian Rickwood, CEO of Henley Investments, added: “The purchase of Galeria Pestka marks an expansion by Henley into a new region – with our debut Polish purchase – as well as the firm’s first shopping centre acquisition. This builds on the firm’s existing retail experience, including retail parks, supermarkets and hypermarkets, and leverages our deep asset management expertise.”
Henley are retaining the existing property manager, Multi, a leading Pan-European integrated service platform for retail real estate assets. Henley was advised by Mishcon de Reya and Polish lawyers B2RLaw.