Capital Park and Akron Group have signed a joint venture agreement for ETC Swarzędz, a first generation shopping centre. ETC Swarzędz is a project with potential not only involving loyal customers but also created by satisfying tenant results. This gives robust grounds for a decision on modernisation.
“We want to strengthen the centre’s already strong position by enhancing the standard of retail space and by expanding the range of shops and services. It is another joint venture project conducted in conjunction with our trusted partner, the Akron Group,” commented Marcin Juszczyk, member of the Management Board and Investment Director at Capital Park.
The decision to cooperate on another project, after ETC Gdańsk, ensues from the Capital Park Group’s long-term strategy envisaging investment in medium-sized first generation shopping centres with significant value growth potential.
Under the JV agreement Capital Park will hold 60 percent and the Akron Group 40 percent in the project. Modernisation will be co-financed by the investors and with a bank loan.
Stefan Ausch, Managing Partner at the Akron Group, added: “The joint venture we have just signed is another project on which the Akron Group cooperates with the Capital Park Group. Towards the end of this quarter we will complete modernisation of ETC Gdańsk centre. ETC Swarzędz also is a first generation facility that will be suited to the needs and expectations of tenants and customers alike thanks to the expertise and experience of both our companies.”
ETC Swarzędz, the first shopping centre built in Wielkopolska region, has been popular with customers for over twenty years now. The centre is located in Swarzędz in the eastern part of the Poznań agglomeration on national road no. 92 linking Poznań and Konin. It currently features more than 21 thousand sqm of retail space and accommodates 126 stores and service units. KFC restaurant, Shell filling station and Leroy Merlin store are located in close neighbourhood.
ETC Swarzędz tenants include Intermarche, RTV EURO AGD, Vision Express, Rossmann chemist store, CCC footwear store, Drogeria Natura and YES jewellery store.