LCP Poland Acquires Galeria Chełm in Major Retail Deal

LCP Poland, part of M Core, has completed the acquisition of Galeria Chełm from Equilis and Acteeum. The value of the transaction has not been disclosed.

The acquisition adds more than 17,000 sqm of retail space and 55 tenants to LCP Poland's portfolio.

The deal also expands M Core's presence in Poland's retail property market.

Galeria Chełm was developed jointly by Equilis and Acteeum and opened in 2020. It is fully leased and located at the junction of Lubelska and Rejowiecka streets in Chełm, near a major transport hub.

Galeria Chełm Has 55 Retail Tenants

The shopping centre has a diverse tenant mix. Its brands include Lidl, Reserved, Sinsay, Rossmann, Hebe, CCC, RTV Euro AGD, Martes Sport, Smyk, Rituals and New Yorker.

The property also offers 509 parking spaces. It holds a BREEAM Very Good certification, supporting its environmental and energy-efficiency credentials.

Equilis said the centre performed strongly after opening, with visitor numbers and turnover exceeding expectations.

The transaction marks the completion of its joint investment with Acteeum, Eurobuild reported.

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Centre to Become M Galeria Chełm

LCP Poland plans to refresh the property's visual identity and branding in the coming months. The centre will be renamed M Galeria Chełm.

The rebranding follows M Core's strategy for its Polish retail portfolio. Its retail parks operate under the M Park brand, while shopping centres and standalone retail properties receive the M prefix.

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M Core Expands Its Polish Retail Portfolio

The acquisition strengthens M Core's position in Poland. LCP Poland already operates a growing network of almost 80 M Park retail parks.

James Fife, CEO of LCP Poland, said the acquisition highlights the importance of Poland to the group's growth strategy.

He also pointed to the potential of expanding beyond the retail park format.

With Galeria Chełm, M Core is adding an established shopping centre to its portfolio while retaining its focus on Poland's retail property sector.

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