Following the successful sale of Galeria Młociny, Master Management Group announces new plans
Master Management Group, which has recently sold Galeria Młociny for €104.5 million, has new investment plans. “There is a great deal of interest from tenants in our new projects,” said Paul Kusmierz, CEO of Master Management Group.
“The sale of Galeria Młociny has opened up a series of opportunities for Master Management Group – we are adding new profitable projects to our portfolio, in line with our strategy of adding value through active management, as we’ve done in the case of Galeria Niwa in Oświęcim and Brama Mazur in Ełk. We have plans to cooperate with leading brands on the Polish market and will also focus on Piotrkowska 155, which, following the sale of Galeria Młociny, is now our flagship project,” he added.
Piotrkowska 155, the commercial complex integrated with a Hampton by Hilton hotel, is currently under construction in the centre of Lodz. It will offer over 25,000 sqm of office and commercial space and will be the tallest building in the city centre. The prestigious investment is situated right next to the new transport hub. The retail component with its smart tenant mix will include shops, restaurants, cafes, as well as a fitness club and a medical clinic, with easy access from the street.
In the nearest future Master Management Group will unveil plans for several brand new projects and investments in prime locations in Poland’s regional cities.
“We are convinced it makes sound business sense to invest in retail projects in cities of 50 to 100 thousand inhabitants. Our long-term experience on the Polish market, which includes managing a portfolio of shopping centres and retail parks outside of the leading agglomerations, means we have in-depth knowledge of consumer needs. Our close relationships with tenants also provide us with insights into their strategies: they want to open stores not only in Warsaw, Poznań or Wrocław but also in secondary cities,” added Paul Kusmierz.