We have just closed on our 19th property in our portfolio in a great regional market – Poznań. The Marcelin shopping centre brings our total to more than 835,000 sqm in Poland’s biggest cities.
This market is very exciting as one of Poland’s largest and wealthiest cities. The larger area around Poznan is the third most populous voivodship (province) in Poland. More than half a million people live in the city, while the larger Poznań Metropolitan Area is home to nearly 833 000 people.
Poznan’s GDP is second only to Warsaw. Purchasing power per capita in the city is 37% higher than the rest of the country, and its unemployment rate is one of the lowest in the country at 1.5%. Poznań’s economy can be regarded as not just healthy, but sustainable. Oxford Economics forecasts GDP growth at average 2.9% for 2017-2019, which is one of the highest in Poland.
Location, Location, Location
The city’s geographical location makes it attractive for western European companies looking to do business in Poland, with as much as one third of the foreign capital invested in Poznań coming from Germany. Marcelin has an excellent location in the western part of Grunwald, Poznań’s biggest district. The centre opened in March 2005 and occupies prominent and highly visible location at Bukowska street one of the important roads leading west towards Poznań- Ławica airport. King Cross Marcelin is situated at the fringe of Grunwald and Ławica districts.
King Cross Marcelin is the major shopping destination in western Poznań with an immediate catchment of over 202,000 people living within a 15 minutes’ drive, and directly adjacent to the property, the Business Garden Poznan business park is currently under construction which will attract an additional 12,000 people daily to the catchment area. The development of the Business Garden Office Park should increase the footfall in the centre by 10% once completed. This, combined with the extension opportunities
Great Tenant Mix
The 45 353m² centre is already 99% let to popular international and national retailers including Media Markt, H&M, Intersport, Auchan, Nike, CCC and McDonald’s.