A fund advised by property investment manager Meyer Bergman has taken full control of Galeria Katowicka, the shopping center that it developed with Neinver and Poland’s state railway company PKP SA. Since now, Galeria Katowicka will be managed by Apsys Poland.
Meyer Bergman European Retail Partners entered into a 50/50 joint venture with Neinver to develop the scheme in late 2010 alongside PKP, which contributed the land in the venture. The fund purchased an additional 30% stake in the JV in 2012. It has now acquired the remaining interest from Neinver and PKP for an undisclosed sum.
Meyer Bergman has appointed Apsys Poland as Galeria Katowicka’s property manager overseeing daily operations and leasing.
“Since opening, in September 2013, Galeria Katowicka is well on its way to becoming a high performing asset that will appeal to institutional investors who are looking for exposure to one of the strongest growth markets in Europe. The center’s location at the heart of the city and integration into the regional capital’s main transport hub, the second busiest after Warsaw, are undeniable attractions to leading brands and the growing numbers of visitors” – said Mark Gamble, Meyer Bergman’s Head of Asset Management.
Galeria Katowicka’s performance indicators have continued a steady upward trend for a long time now. The number of customers is constantly on the rise, with month-to-month increases of up to 30%. In October 2015, the mall attracted over 1,2 million visitors. There were many days when it welcomed more than 50 000 people. October 2015 proved to be Galeria Katowicka’s best month in terms of sales, except for December 2014 when they were 50% up compared against the corresponding period of 2013. Despite the opening of the Supersam new shopping center in the Katowice downtown, Galeria Katowicka’s sales last month were 20% higher than in October 2014.
Galeria Katowicka is located in the center of the Upper Silesian capital. Its retail area of 53 000 sq. meters hosts over 250 units. The mall has a two-level parking lot for 1 200 vehicles and offers direct access to a railway station and a public bus station. The list of Galeria Katowicka’s tenants includes: Peek & Cloppenburg, Zara, TK Maxx, Multikino, C&A, Reserved, RTV Euro AGD, Douglas and Tiger.