Galeria Sandomierz records 15 % increase in retail sales
Published date: 17/02/2020
The total turnover of the tenants in Galeria Sandomierz shopping center (Sandomierz, Poland) has increased by 15% in 2019 compared to the previous year. This figure is almost three times higher than the growth in retail sales throughout the country. Thus, according to Statistics Poland, retail sales in Poland in 2019 increased by 5.4% compared to 2018.
«Over the past two years of managing Galeria Sandomierz, the growth rate of trade turnover of the shopping center has increased 2.5 times. First of all, this was made possible thanks to the properly selected pool of tenants and an adequate inventory management on the tenants ’side. Capital investments in improving the gallery, our digital marketing initiatives and the quality of property management performed by our White Star colleagues also had a significant effect», – commented Maxim Shkolnick, Partner of the Focus Estate Fund.
«We are happy that we have had the opportunity of contributing to this outstanding performance of Galeria Sandomierz. Within the last 2 years, 10 new brands opened their stores in the mall and the shopping center is leased in 100 % now. Customers are attracted by a better offer, new amenities, including places where they can relax and charge their mobile phones or a child care room. We hope to continue supporting Focus Estate Fund in their efforts to make the visit in the shopping center an exceptional shopping experience, which would positively contribute to Fund’s return and enhance a stable long term performance of Galeria Sandomierz – said Piotr Katkiewicz, Director of Property Management in White Star Real Estate.
The leased area of the shopping center (GLA) is 4.382 sq.m, its anchor tenants are: Carrefour – grocery supermarket; RTV Euro AGD – electronics operator; fashion brands: CCC, Reserved, CROPP, HOUSE, Big Star; Drogeria Natura – cosmetics and pharmacy.
It is worth reminding that Galeria Sandomierz was acquired by the Focus Estate Fund in June 2016 and showed zero vacancy in 2019.
Focus Estate Fund is a real estate investment fund with its headquarters in Kyiv (Ukraine), focusing on non-prime commercial real estate in the countries of Central and Eastern Europe. The fund plans to invest in the development of commercial real estate projects of medium format in the most dynamic markets of Eastern Europe in the amount of 50 million euro over the next 2-3 years.