LCP the new owner of Vogel Square

by   CIJ News iDesk III
2022-12-01   11:50
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LCP Group has bought the Plac Vogla project in Warsaw. This is another and, according to the announcement, not the last property of a retail nature in the portfolio of this investment group. The company's development plans include further increasing its share in this segment, including through its own development activities.

Plac Vogla, located in Warsaw's Wilanów district and built by Ghelamco Poland, opened in 2015, providing residents with a friendly place to meet, shop and hold local events. The retail space of the building is 5,000 sqm, with 24 tenants targeting customers, including: API Market, Home and Kitchen, Empik, Rossmann, Cosmedica, Loop Fitness, VOG'LA 69 Fashion Outlet, Pet Experts, Optyk Tondryk, Batida, Hop Pop children's playroom, butcher store and fruit and vegetable store, Poczta Polska. The facility also houses cafes and restaurants, the Wilanów Cultural Center and a kindergarten. The building includes a parking lot with 169 spaces. The value of the transaction was not disclosed.

"Plac Vogla has perfectly matched the needs of Wilanów residents, who are happy to spend time here and do their shopping. At the same time, this is the second - after Prochownia Łomianki - retail and service facility from our portfolio in which LCP Properties has invested. By handing it over to such an experienced investor in this market, we are confident that it will continue to be an important place for the local community, " says Jeroen van der Toolen, Ghelamco's managing director for Central and Eastern Europe.

"Vogel Square meets the criteria of the best projects that are local hubs for retail, services and integrating the community and offering it not only a space for shopping, but also a place to spend leisure time. We still have a big appetite for this type of real estate, so we are actively securing more facilities that meet our requirements. We want to grow, and the Polish market gives us the opportunity to expand our portfolio with quality retail parks. What's more, next year we will start more widely with the construction of facilities in the developer formula - for this purpose we have selected and secured plots of land and are in talks with contractors," emphasizes Krystian Modrzejewski, Group Operations Director, LCP Properties.