Sierra Balmain to manage three more shopping centres in Poland

Sierra Balmain assumes management mandates for three Stage Capital shopping centers in Poland: Pasaż Łódzki, Galeria nad Jeziorem, and CH Osowa.

The agreements include all aspects related to the management of each location, including, operational management, property-related finance matters, lease management, leasing, and marketing. These three mandates add to a successful management partnership with Stage Capital, which already included Centrum Galardia in Starachowice.

Sierra Balmain is currently managing a total of twenty assets in 15 polish cities, its portfolio includes multifunctional shopping and entertainment venues, retail parks, convenience, and logistic centres. Thanks to the new contract, the retail space managed by the company will increase by another 75,000 sqm, totalling over 550,000 sqm.

“We are pleased that Stage Capital has entrusted us for the second time with the management of its assets. It is our goal to make sure that the acquired properties maintain their stable position as the valued local shopping and entertainment destinations that they are,” commented Sierra Balmain’s Head of Operations, Dorota Suchodolska.

James Huckle, Partner of Stage Capital, said: “The three shopping centres are attractive retail properties, with their own specific demands on property management. We are confident that Sierra Balmain will contribute to the success of our centres with active management and continuous, forward-looking optimization.”

“Whilst the acquired centres are already well established and have successfully survived the pandemic challenges, there is still great opportunity to increase footfall, sales, rent, and value, through leasing-led asset management strategies,” said Sierra Balmain’s Head of Leasing, Agata Stankowska.