LCP Properties Accelerates Expansion in the European Commercial Real Estate Market with M Park Olsztyn

LCP Properties Accelerates Expansion in the European Commercial Real Estate Market with M Park Olsztyn

LCP Properties, a prominent player in the Polish retail park market and part of M Core, is pleased to announce its latest venture in the European commercial real estate landscape. The acquisition of a strategically located plot in Olsztyn marks the commencement of the M Park Olsztyn project, solidifying LCP Properties' commitment to growth and development.

The purchased plot, boasting an already approved building permit, is situated in the southern part of Olsztyn at Bartąska street, in close proximity to flourishing housing estates such as Zacisze, Generalów, and Jaroty. The 3,100 sq m GLA retail park will host six tenants, with four already committed through signed contracts and negotiations underway for the remaining spaces. The anticipated opening of M Park Olsztyn is scheduled for the third quarter of 2024.

Key features of M Park Olsztyn include a spacious parking lot for 126 cars, designed for visitor convenience. As part of LCP Properties' commitment to sustainability, electric car charging stations will be installed on site, for the convenience of shoppers and commuters.

The CEO of LCP Properties in Poland, James Fife, commented,

"The purchase of a plot in Olsztyn, concurrent with our recent announcement of a retail park in Pionki, underscores our dedication to intensifying operations in Poland. We are on track to double the value of our portfolio, and 2024 promises to be an exciting year for LCP with numerous M Park openings. Our ongoing negotiations with potential tenants for the remaining spaces in Olsztyn are very promising from both construction and commercial perspectives."

The commercialisation process for M Park Olsztyn is well underway, with notable tenants such as Tedi, Pepco, Rossmann, and Dealz already secured. The project aligns with LCP Properties' ambitious goal to expand its M Park brand, with 46 properties currently in the portfolio. Recent additions, including M Park Łochów, and upcoming projects in Iława and Reda, demonstrate the company's commitment to continuous growth.

Parallel to the Olsztyn venture, LCP Properties is concurrently progressing with the Pionki project, where a plot was acquired in November this year. With these strategic moves, LCP Properties solidifies its position as a leader in the European commercial real estate market.