JYSK expands in Eden Retail Park
Published date: 09/11/2020
JYSK, a global retail chain from Denmark offering a full range of household goods, has expanded its sales area by 30% at the Eden Retail Park in Zgorzelec, Poland. After the signing of the contract, the store will occupy an area of 1,400 square meters and will open in a renewed concept in 2021. Before the expansion, JYSK will continue to operate in its current format.
“Without any doubt, the pandemic made adjustments to our plans, but did not foil them. After the store opened in May, we have recorded the increase in turnover over the past six months compared to the same period in 2019, which is encouraging. We continue to expand and increase our assortment in small towns. In this difficult period, the format of the retail park is the best fit for the times. In Eden Retail Park we have our own entrance, our customers do not use the common areas, as in large shopping centers, and the increase in the lease area will allow us to take even better care of social distancing,” Dominik Lonski, JYSK Development Manager comments.
“We are proud that our anchor tenant has improved its financial performance during the difficult times and has decided to enlarge its leasing area. Eden Retail Park, due to its focus on the local costumer, who prefers fast and safe shopping close to the place of residence in the conditions of COVID-19, has restored the flow of buyers quite quickly. This seems to be a good sign for the local retail market. As well as the fact that the average turnover of our tenants in September has already surpassed the figures for the respective period last year. I think we are really lucky to have completed the reconstruction of the shopping center into a retail park just a couple of months before the pandemic. Now this is one of our strong advantages,” Maxim Shkolnick, Focus Estate Fund Partner, pointed out.
It is worth reminding that Focus Estate Fund has acquired Eden Retail Park in 2018, invested over 2 million euros in order to change the format from a shopping center into a retail park. The reconstruction of the retail park was completed in December 2019. Its anchor tenants are well-known international and local brands, such as: Decathlon (1,900 sq. m.), Jysk (1,400 sq. m.), Action (867 sq. m.), Chinski Market (1,344 sq. m.), Komfort (565 sq. m.).
Focus Estate Fund – Real estate investment fund focusing on non-prime retail properties in Central and Eastern Europe. The Fund’s strategy is to invest in the existing mid-scale commercial properties in the most dynamic European markets.
JYSK is a global retail chain from Denmark offering a complete range of home furnishings. Today, JYSK Group includes more than 2,900 stores. There are 237 stores in Poland.
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Press-coordinator of Focus Estate Fund
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