Newgate Investment has completed the purchase of a retail park located at 135 Bydgoska Street in Piła. This facility features a leasable area of 15,943 square meters and is situated in a traditionally commercial zone, having previously housed a Tesco hypermarket. The proce has not been disclosed.
Currently, it accommodates several major retailers, including Castorama (the only one within an 80 km radius), Biedronka, Pepco, RTV EURO AGD, Rossmann, Sinsay, and the DOZ pharmacy. This marks Newgate Investment's second retail park in Piła and the thirty-fourth in the company's Polish portfolio, which totals approximately 181,000 sqm of Gross Leasable Area (GLA). Negotiations are currently underway for the purchase of additional properties.
This acquisition is part of Newgate Investment’s ongoing expansion of its retail portfolio. The company previously acquired Ozimska Park Opole (over 17,000 sqm GLA), Comfy Park Bielik in Bielsko-Biała (over 17,000 sqm GLA), and Smart Park Zgorzelec (over 5,000 sqm GLA).
"We are consistently expanding our portfolio of commercial properties. We focus on acquiring facilities that hold a dominant position in local markets or are part of key commercial destinations in their respective cities. These properties will maintain their competitive advantage for the long term by meeting the needs of local communities with essential goods and services", says Robert Dudziński, Director of Asset Management at Newgate Investment. "In 2025, we plan to invest around €100 million in acquiring new facilities for our portfolio," he adds.
The occupancy rate of the company's Polish portfolio exceeds 99.7%, significantly higher than the Polish market average of 94%*.
"This high occupancy level results from both effective investment decisions and strong interest from retail chains in well-located areas. It is important to note that in 2023, the volume of new retail space entering the market in the form of retail parks exceeded that of shopping centres by 218%. Retail parks and convenience centres now account for 28% of the total modern retail space in Poland, which totals 15.5 million square meters", emphasises Robert Dudziński. "We believe that the Polish market is still far from saturation for this retail format, so we will continue our active presence in Poland in the coming years," he concludes.
