Trei Real Estate GmbH (Trei), a property developer and property asset holder for residential and retail real estate, has just expanded its Polish retail property portfolio. The company, which is the property subsidiary of the Tengelmann group of companies, opened its twelfth retail park in Poland under the umbrella of its Vendo Park brand. The property is located on Nowy Rynek Street in the small town of Pultusk. The total investment costs of the Vendo Park complex add up to c. €5.8 million.
The new retail park is located right next to the supermarkets of the Lidl and Stokrotka chains which is an optimal complement of the retail offer. The Vendo Park comprises a total floor area of 4,100 sqm and occupies a plot of 9,600 sqm. A diversified mix of various retailers and brands will be offered. In addition to leading consumer electronics retailer Media Expert, well-known brands from the textiles sectors such as Martens Sport, KiK, Hebe and Dealz opened their first and, so far, only outlets in town. Tenants include CCC (footwear, purses, care products, leather accessories), Empik (non-food, books, international magazines) and Kakadu (pet supplies). The Vendo Park in Pultusk provides more than 100 parking spots. Trei Real Estate started construction of the Vendo Park scheme in February of this year.
Pepijn Morshuis, CEO of Trei Real Estate, commented: “The Vendo Park in Pultusk marks the successful continuation of our plans to expand on the Polish retail park. It is our third Vendo Park asset in the Masovian region. We place a premium on providing a comprehensive and diversified shopping offer at our retail parks. This includes signing up brands that have not had a local presence so far. Given the keen demand, we plan to open another three Vendo Parks in Poland before the end of this year.”
Trei plans to keep this asset in its portfolio long-term. At the moment, the portfolio includes another eleven Vendo Parks in Poland. The three retail parks yet to be opened this year are all located in smallish towns: Ostroleka (in the Mazowieckie Voivodship), Lask (in the Lodzkie Voivodeship) and Kobylka (in the Mazowieckie Voivodship). In addition, Trei plans to develop new Vendo Parks in Solec Kujawski, Czestochowa, Plock and Kutno. Developing these assets is part of the Trei’s plans to expand on the Polish market. Aside from Poland, Trei uses the Vendo Park brand to plan, develop and manage retail parks in the Czech Republic and in Slovakia.
Across Europe, Trei owns 21 Vendo Parks at the moment. The company’s current portfolio assets are located in Nysa, Chelm, Milanowek, Minsk Mazowieckie, Skierniewice, Lodz, Swidnica, Dabrowa Gornicza, Chodziez, Bytow and most recently Pultusk. At the same time, Trei Real Estate also manages more than 100 properties that are let to Biedronka, the largest Polish supermarket chain.