French listed real estate investment firm Frey has agreed to acquire the Matarnia Park Handlowy retail park in Gdańsk, Poland from Ingka Centres for €105 million.
Located 10 km southeast of Gdańsk, a port city on the Baltic Sea, Matarnia Park Handlowy is a 52,278 m2 retail park that offers strong features:
• A strategic location with exceptional accessibility: the asset is located at the crossroads of the main regional roads, the E28 motorway (main axis of Tri-City) and road 472 connecting the airport to the centre of Gdańsk. It also has good public transport access thanks to bus connections on the one hand and a PKM stop on the other;
• A catchment area of more than 600,000 inhabitants less than 20 minutes away with a purchasing power 15% above the Polish national average and growing rapidly (strong population growth with more than 30 residential programmes under development less than 10 minutes from Matarnia Park Handlowy);
• An attractive and complementary shopping offer (fashion & home equipment, DIY & electronics), developed over 52,278 m2 of retail space and secured by leading anchors of their sector (MediaMarkt, OBI, SportsDirect.com, H&M and TK Maxx…);
• A total footfall of the retail area of ca 7 million visitors;
• A recurring and secured profitability with a current occupancy rate of 98% and a net annual rental income of ca €8 million.
Matarnia Park Handlowy surrounds the one and only IKEA store in the region (the next-closest IKEA store is a threehour drive). Together with the IKEA, the total retail area comprises 73,000 m² on-site.
Antoine Frey, Chairman and Chief Executive Officer of Frey said: “This acquisition will enable Frey to continue to implement its strategy of becoming the European leader in sustainable retail. A Prime retail park ideally located in one of Poland’s most dynamic cities, Matarnia Park Gdansk also benefits from the attraction of one of Poland’s first IKEA’s on site. Frey will be able to transform this high-potential asset to bring it up to the standards of its Shopping Promenade® concept and get the most out of it. This acquisition also marks Frey’s first investment in Poland, one of the most dynamic economies in Europe”.
Karoline Nader-Gräff, Global Investments and Divestments Manager at Ingka Centres said: “The completion of this successful transaction with Frey is testament to Matarnia Park’s strong performance track record and proven resilience during the pandemic and against a transitioning retail landscape. We are excited to have facilitated Frey’s first footprint in the Polish market and look forward to seeing Matarnia Park continue to prosper under new ownership”.
