News Article Ghelamco LCP Properties Poland retail Warsaw
by Property Forum | Investment

Ghelamco has announced that it has signed an agreement to sell Plac Vogla, a retail and service center in Warsaw’s Wilanów district. Investment group LCP Properties, which also acquired the Prochownia Łomianki retail park from the developer in October this year, has become the new owner of the building. The price has not been disclosed.

Opened for use in 2015, Plac Vogla has 5,000 sqm of retail and service space with 24 units housing stores, commercial spaces, restaurants, cafes, a kindergarten and a municipal cultural center, as well as provides parking for 169 cars. Major tenants of the retail park include API Market, Rossmann, Hop Pop – children playroom, LOOP Fitness, Home and Kitchen, Empik and Cosmedica.

Plac Vogla was designed in the format of a local retail and service center with street character and ground-floor development. It is located in a green area on Vogla Street and has become a shopping destination for Warsaw’s Zawady residents.

“Plac Vogla has perfectly addressed the needs of Wilanów residents, who enjoy spending time and shopping here. At the same time, this is the second – after Prochownia Łomianki – retail and service center 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, Managing Director CEE, Ghelamco.

“Plac Vogla meets the criteria for the best projects that serve as local centers of commerce and services, integrate the community and provide it not only with a shopping space, but also a place to spend their free time in. We continue to have a strong appetite for this type of properties, 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. In addition, next year we will step up the construction of facilities in the developer formula – for this purpose, we have selected and secured plots of land and are talking with contractors,” emphasizes Krystian Modrzejewski, Group Operations Director, LCP Properties.

LCP Properties currently owns about 90 retail, office and warehouse properties in Poland. At the beginning of 2022, the total combined space of the facilities owned by the company exceeded 360,000 sqm, with the value of €460 million.