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Poland EPP takes over the management of the M1 and Power Parks

Property and Facility Management
EPP is taking over the management of nine M1 shopping centres and three Power Parks from Metro Properties Polska. Some of Metro Properties Polska's employees, including local property management teams will join EPP.

EPP's acquisition of a portfolio of twelve retail properties (shopping centres and retail parks) with a total area of more than 470,000 sqm, was one of the largest transactions in the history of the Polish commercial real estate market. It was divided into three stages, the first of which was completed in January 2018, the second in June 2019, and the third was finalised in March 2021. The portfolio consists of twelve retail assets, including nine regional M1 shopping centres: M1 Marki, M1 Czeladź, M1 Kraków, M1 Łódź, M1 Zabrze, M1 Bytom, M1 Częstochowa, M1 Radom, M1 Poznań, and three Power Parks: Power Park Kielce, Power Park Olsztyn and Power Park Tychy. The entire portfolio is covered by a property management (master lease) agreement with Metro AG, which expires at the end of April 2024. Due to its termination, as of 1 May this year, management of the properties is transferred to EPP.

The M1 shopping centres and Power Parks are a diverse portfolio of properties with a long-standing presence on the market. Our aim is to develop the potential of these assets by strengthening their offer and enriching it with new, attractive tenants. We are also planning space rearrangements and upgrades resulting from changes in tenant mix, the age of the properties or ESG requirements. Together with the experienced team of employees of Metro Properties Polska, who will continue to look after the properties, but from May onwards under EPP's wing, we will successively implement these changes.
Tomasz Trzósło, CEO at EPP

M1 is a popular and well-recognised shopping centre brand on the Polish market, firmly established in customers’ minds in central and southern Poland, which started the year with an impressive 99.3 pct occupancy rate. Last year, 35.5 mln customers visited us and tenants recorded an increase in turnover. Power Parks, on the other hand, are strong local retail properties, accompanying customers in their daily shopping. We are handing over the management of this unique portfolio with a very good set of brands and stable, partner relationships with tenants, which are also positively evaluated by industry organisations. Despite their many years on the market, these are centres with high BREEAM certification ratings, consistently upgraded over the years and managed to the best ESG standards. I believe that EPP will successfully develop their potential on the commercial map of the country.
Renata Kinde-Czyż, CEO at Metro Properties Polska

Thanks to investments and the implementation of a package of innovative measures, the M1 shopping centres have achieved nearly 20 pct savings in electricity consumption compared to the average consumption between 2018 and 2022. The properties have BREEAM In-Use certificates at Outstanding and Excellent levels.

The M1 shopping centres and Power Parks are retail properties with a history of around 20 years. They are located in large urban agglomerations with high population density, in the vicinity of important transport routes. Their tenants include the food hypermarket Auchan, as well as numerous international and local brands such as MediaMarkt, OBI, TK Maxx, H&M and C&A.

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Edition 5 (288) May 2024

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