LCP with M Park in Mrągowo – project with a building permit and signed contracts for over 90% of premises purchased from Green Hills Investment

LCP with M Park in Mrągowo – project with a building permit and signed contracts for over 90% of premises purchased from Green Hills Investment

Belonging to the international real estate investment group M Core – LCP Properties, one of the leading investors and developers on the Polish retail park market, has finalized the purchase of a plot of land from Green Hills Investment, with a building permit for the future M Park in Mrągowo. M Park Mrągowo will offer over 15,000 sq m of GLA with a total of 26 premises. Contracts for 24 of them have already been signed. M Pak Mrągowo will be the largest retail park in the company's portfolio in Poland. The official opening of the facility is planned for the first quarter of 2025.

M Park Mrągowo will be built on Olsztyńska Street, right next to the existing DIY, Orlen petrol station and MC Donald's restaurant. For the convenience of visitors, a spacious parking lot for up to 380 cars will be available. Chargers for electric cars will be installed in the parking lot. Importantly, in the context of activities within the broadly understood ESG, in addition to the chargers, the plan also includes obtaining BREEAM certification at the Very Good level for this property.

"After the recent purchase of 25 retail parks in Romania, we have returned to the Polish market with investments, thus once again emphasizing the importance of the country on the Vistula for the further development of not only our group, but also the expansion of the M Park retail brand. The purchase of the project in Mrągowo is the best example of this,"

 

commented James Fife, CEO of LCP Properties.

"Thanks to the investment in Mrągowo, we will introduce the largest M Park in Poland to our portfolio. And the high interest of tenants in this location at such an early stage of the project confirms the justification of our investment,"

he added.

"The implementation of such a large retail park in Mrągowo only confirms our belief that the aggregation of trade in one dominant project is the most appropriate direction of development in this market segment. We strive to ensure that the shopping offer for customers is as diverse as possible, and access to it takes place at one address. This can only be achieved with scale,”

said Jakub Wysłocki, co-owner of Green Hills Investment.

 

“We are currently in further talks with LCP in the context of further, future projects and we count on long-term cooperation,” he added.

“We are extremely proud of the fact that the largest retail park in LCP’s portfolio was purchased from Green Hills Investment. The construction of an investment with an area of ​​over 15,000 sq m, which is almost fully commercialized, can be considered a huge success, especially in the reality of high production costs and a decreasing supply of attractive land. Our goal is to implement comprehensive retail facilities in strategic locations,” commented Sebastian Sypniewski, co-owner of Green Hills Investment.