Rockcastle acquires Platan shopping centre in Zabrze, Poland

Rockcastle Global Real Estate has acquired the 25,336 sq m Platan shopping centre in the city of Zabrze (Katowice urban area) from TRIUVA for EUR 51.8m.
Platan is a modern and efficient shopping centre comprising 25,336 sq m GLA with a diversified collection of 75 retailers including a hypermarket, a strong fashion & footwear offer as well as a services and food and beverage offer. Tenants include: Auchan hypermarket, Go Sport, RTV Euro AGD, Carry, CCC, LPP Group (Reserved, House, Cropp, Sinsay), Deichmann, Rossmann, Sephora, Centro and Vision Express. The centre boasts nearly 100% occupancy and has been operating since 2003 offering customers a simple layout, attractive tenant mix and an extensive free parking facility. Together with the adjacent retail park it forms a strong retail destination with an annual footfall of almost 4m visitors. The total catchment area defined as the area within a 20-minute drive from Platan encompasses 914,000 people.
Rockcastle was advised in this transaction by Cushman & Wakefield, Weil, Gotshal & Manges and CMT. The seller was represented by JLL, Linklaters and Arcadis.
Spiro Noussis, Chief Executive Officer at Rockcastle Global Real Estate, said: “Platan is an extremely well located shopping centre with an attractive number of core tenants and a dominant hypermarket anchor which positions it well for future growth and expansion. Rockcastle is very pleased with this addition to its growing retail portfolio and excited about our substantial investment in the city of Zabrze. This acquisition brings the total number of shopping centres in our portfolio to four existing centres, two new developments and we are actively pursuing numerous other retail opportunities in Poland which we expect to conclude in 2016.”


James Chapman, Partner and Head of CE Capital Markets at Cushman & Wakefield, said: “This represents another key retail deal and that there is an increasing tendency towards long-term, strategic investment into Polish retail. The strong consumer spending projections position Poland as a future top performer in Europe for rental income growth. Cushman & Wakefield is delighted to have advised Rockcastle in the acquisition of this centrally located shopping centre in Zabrze that is set to benefit from these positive trends.”
Agata Sekuła, International Director, Head of Retail Investment CEE at JLL, added: “We are delighted to have been involved in the sale of Platan shopping centre in the city of Zabrze on behalf of Triuva (previously called IVG). Poland continues to attract tenants and developers, as well as investors and importantly, investor activity in the retail sector is set to continue in the coming years as more retail schemes are completed.”