LCP Poland, part of M Core, has completed the acquisition of Galeria Chełm from Equilis and Acteeum. The acquisition will add more than 17,000 sqm of retail space and 55 tenants to LCP Poland’s portfolio. In the coming months, the property will undergo a series of changes aimed at aligning it with M Core’s standards and strategy. These will include an updated visual identity, rebranding and a subtle change to the name, with the addition of the “M” prefix. The property will operate as M Galeria Chełm.
Jointly developed by Equilis and Acteeum and opened in 2020, Galeria Chełm is a fully leased shopping centre located next to one of the city’s key transport hubs. The property offers spacious customer parking with 509 spaces and holds a BREEAM Very Good certification, confirming the use of solutions that support energy efficiency and sustainable development.
The shopping centre is home to 55 tenants, including well-known brands such as Lidl, Reserved, Sinsay, Rossmann, Hebe, CCC, RTV Euro AGD, Martes Sport, Smyk, Rituals and New Yorker, among many others.
“The acquisition of Galeria Chełm is another important step in our growth and confirms how important the Polish market is to us. In recent years, we have successfully developed the M Park retail park format, which now comprises almost 80 properties and has become one of the best-known retail park brands in the country. At the same time, we see potential in other retail formats, and Galeria Chełm is a good example of this,” said James Fife, CEO of LCP Poland, part of M Core.
For Equilis and Acteeum, the transaction marks the successful completion of the investment cycle for the jointly developed Galeria Chełm project.
“The sale of Galeria Chełm is an important milestone for Equilis and confirms the value created through our longstanding partnership with Acteeum. Together, we developed and grew a high-quality, well-performing shopping centre that has become a favourite shopping destination in the region. The transaction also confirms the effectiveness of our DuoDev 1 fund’s investment strategy and our expertise in developing, managing and delivering attractive retail assets for long-term investors,” said Carl Mestdagh, Executive Chairman, Equilis Europe.
“We are grateful to the city of Chełm, our business partners responsible for property management and commercialisation, as well as all our other partners and tenants, for their harmonious cooperation over the past years. The centre opened at the beginning of the COVID-19 pandemic and, despite the challenges associated with that period, succeeded in earning the trust of millions of customers who have visited it over the past six years. Thanks to numerous events and attractive promotional campaigns, both visitor numbers and turnover consistently exceeded expectations year after year. We are proud and pleased to hand over Galeria Chełm to its new owner, LCP, in such good condition,” said Anna Grams-Szalacha, Finance Director and Asset Manager at Acteeum Group.
