News Article Atrium investment NEPI Rockcastle Poland retail Toruń
by Property Forum | Investment

NEPI Rockcastle has entered into an agreement to acquire 100% of the shares in Atrium Copernicus, the entity that owns Atrium Copernicus Shopping Center in Toruń, Poland, from Atrium Retail Ltd. 

Copernicus Shopping Center, which comprises 48,000 sqm, is a popular retail spot in Toruń, a  city of 200,000 inhabitants, with a high average purchasing power (11% above the national average) and a low unemployment rate of 3.5%. Located on Vistula River, Toruń is a highly popular tourist destination in Poland and home to four universities with nearly 27,000 students. With a catchment area of close to 400,000 people (within 30 minutes' drive), the property enjoys a strategic location in the city.

Copernicus Shopping Center has a BREEAM In-Use Very Good certification and a high occupancy rate of 98%, including anchor tenants such as Auchan, H&M, Stradivarius, Media Markt, LPP and Decathlon. The property is expected to generate a Net Operating Income of €9.6 million per year in the medium term. The agreed property value is €127 million (including €2 million for the adjacent development plot). The transaction value is subject to a number of adjustments agreed upon by the parties.