LCP CONTINUES ITS COOPERATION WITH TUF RE - NEW TRANSACTIONS IN THE GROUP'S PIPELINE19/10/2021
The recently purchased projects in Chelmno and Lidzbark Warmiñski have strengthened the cooperation between LCP Group, an investment leader on the Polish market, and TUF RE, a company developing investments that respond to the needs of the local community of small towns.
Objects developed by TUF RE are in line with the needs of local communities, providing retail parks that are currently the most popular shopping destinations. TUF RE caters for the needs of local markets in smaller towns and mostly realises its projects there by delivering top quality projects with an optimal tenant-mix.
"Our cooperation with LCP Group has been going on for a few years now and we consider the previous transactions to have been very successful. Having a stable, professional and, above all, reliable entity on the other side makes our work very comfortable. It is a sincere and partnership business relationship, which I hope will continue in the future" - says Fabian Eryk Barbarowicz
The LCP Group, one of the investment market leaders in the retail park segment, is intensively looking for quality investments and cooperation with TUF RE is a natural consequence of the chosen development strategy.
The cooperation between the two companies began with the purchase of Pasa? Che?mi?skiego, (Chelminski Passage) completed in November 2019.The complex currently consists of 3 buildings with a total area of 5740 sq m and 170 parking spaces, which provide direct access to the tenants' premises and will soon be expanded by a further 1,000 sq m.
Similarly, Pasa? Warmi?ski, (Warminski Passage) which as a retail park located directly on national road 51, in the vicinity of Terma Warmi?skie, in Lidzbark Warmi?ski, is an example of a retail facility appreciated both by the inhabitants of Lidzbark and the neighbouring towns, as well as tourists, for whom the Retail Park with the grocery operator Biedronka, being the only such project in the area, is also often an important shopping stop during their trip.
Warminski Passage was completed in April 2021. Tenants include network companies such as Biedronka, CCC, KiK,Martes Sport,4F, Smyk, Tedi, Rosmann, Pepco, Media Ekspert as well as local entrepreneurs. Soon, the Passage will be expanded by another phase, which, by introducing operators from the DIY and interior design segments, will also complement the offer, which will further strengthen the entire shopping potential of the complex in the area and attract more customers to this location.
"TUF RE is already working on the development of the second, complementary phase, directly next to DK 51, which will provide tenants with around 3,000 sq m of GLA and at which a popular food chain is also planning to open its drive-through restaurant," - adds Fabian Eryk Barbarowicz. Managing partner at TUF RE.
pBoth for existing projects and for newly created retail parks, the development of the residential market, which is currently observed throughout Poland, is not without significance. It contributes to the fact that investments in such facilities will also be of interest to their future residents. The presence of new housing estates in the vicinity will be an additional factor boosting investor confidence in such properties, while Retail Park tenants will be provided with a regular flow of the customers.
"When we receive proposals from TUF RE for new developments, it is a guarantee that the project, both commercially and technically, will be of the right quality. We hope that we will be able to carry out further transactions together." - declares Katarzyna Szele?nik Leasing & Acquisition Director at LCP Group
The LCP Group has been active on the Polish market since 2005 and holds over 70 properties in its portfolio. The LCP Group's goal is to exceed EUR 500 million in investment volume in Poland by the end of 2023. It currently has over 200 tenants, the vast majority of whom have been able to continue their operations in their parks during the pandemic period. The Group is constantly looking for investment opportunities in valuable projects on the Polish market and by strengthening its relationships with both tenants and business partners, it underlines its strong and secure position on the local market.
TUF RE is a leading developer with investment and construction activities in the Retail Parks sector. It focuses its developments on medium-sized and small cities and ensures that they meet the local consumer needs. It has such projects under construction as follows: Golubsko-Dobrzy?ski Passage, Grodziski Passage, K?pi?ski Passage and the Ciechanowski Passage. All will be completed in the coming years.
"LCP sees the purchased properties as a long-term investment, in line with the fund's strategy. The Passages malls perfectly complemented our portfolio of retail properties located in smaller towns in Poland. So far we have completed 2 transactions together and we are looking forward to the next ones. The cooperation between the companies is developing excellently." adds Krystian Modrzejewski, Group Operations Director LCP.