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Poland Mitiska makes Europa Centralna purchase

Investment & finance
Belgian investor Mitiska REIM has acquired the 67,000 sqm gla Europa Centralna shopping complex in Gliwice from Sierra Balmain for an undisclosed sum.

Europa Centralna is the largest retail centre in the Silesian city. It stands on a 27 ha plot and comprises a 39,700 sqm gla retail park and a 27,300 sqm shopping gallery, with parking for over 2,000 vehicles. Mitiska REIM plans to reposition Europa Centralna as a food-anchored convenience real estate asset and obtain BREEAM ‘Very Good’ certification.

The complex is currently anchored by DIY stores Castorama and Jula, while other tenants included Jysk, Action, Media Expert, Sports Direct and a standalone drive-through McDonald's restaurant. An 11,000 sqm unit has been available since Tesco wound up its operations in Poland in 2019.

There are 2 mln people living within a 30-minute drive of Europa Centralna, with the Upper Silesia region having one of Poland’s largest concentrations of industrial space and being one of the country’s main centres for business services. This makes Europa Centralna a perfect location, not only for convenience retail but also a hub for DIY goods and homeware in addition to leisure facilities.
Mateusz Szymczak, Mitiska REIM’s investment manager for Poland

Mitiska REIM was advised by Wolf Theiss and Arcadis for this transaction.

Europa Centralna was opened in 2013 by Helical Poland with Standard Life Investments. It was added to Sierra Balmain’s portfolio in 2019.

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