The Polish first store of the chain opened in Leszno at the end of last year. As well as Action, Galena will also comprise Maxi Zoo and Decathlon stores. The Galena retail park is under construction next to Galeria Galena, which is owned by Panova. It will have 3,500 sqm and three tenants. Both buildings – the mall and the retail park – are to be connected into one shopping complex. Panova obtained a building permit in June this year and now the earth work is currently underway. The opening of the retail park has been scheduled for next year.
Panova also intends to open the second stage of the Sosnowiec retail park in March 2019, which had been previously scheduled for 2018. Investment costs will come to around PLN 5.5 mln.
The company is also moving forward with the development of a shopping centre for its long-term partner in Zielona Góra. This project had been halted due to issues surrounding the dimensions of the roundabout that is to be built as part of the redevelopment of the access road. Panova has just received consent for an exemption from the Ministry of Infrastructure, so this project could finally get underway soon. The site was purchased for PLN 11 mln.
Panova currently has a land bank of 24.4 ha with a book value of PLN 50.3 mln in Płock, Przemyśl, Kłodzko, Zamość, Oświęcim, Bytom, Częstochowa, Skawina and the above-mentioned site in Zielona Góra.
Source: eurobuildcee.com