LCP with building permit for EMKA RETAIL PARK.

Over 50% of the space is already leased.
LCP Properties, the owner of Galeria Emka in Koszalin, has just obtained a legally binding building permit to expand Galeria Emka, which will be a recreational and commercial supplement to the existing gallery.

Galeria Emka is the first Shopping Center in Koszalin established exactly 18 years ago. In 2017, LCP Properties Group reconstructed and modernized the 3-storey building with plans to expand it further. Galeria Emka is doing very well on the local market, retaining 97% of its leased and operating space despite the current pandemic.

The owner of Galeria Emka, the LCP Group, obtained a valid building permit for the planned retail park in September this year, and a tender for the general contractor is currently underway.

The expansion plans assume the construction of a 2-storey retail park building, with an area of almost 10,000 m2 for service and commercial premises, of which over 2,000 m2 will be occupied by a modern fitness club, and another 2,200 m2 by a cinema with several projection rooms, including two premium ones. Emka's commercialization is handled by Sierra Balmain Asset Management. The park's retail space is already 55% leased, and another 3 contracts are under negotiation.

"Nowadays such a big undertaking is a challenge, but already today we can be pride ourselves on signing several contracts, including with Helios, Just Gym or Sinsay, which will occupy over 1200 m2 and will be the biggest store in the region". - says Agata Stańkowska, Associate Director of Sierra Balmain Asset Management.

After the expansion, Galeria Emka together with Retail Park will have 850 parking spaces in total.

"Despite the current covid-19 pandemic, we are not slowing down and are continuing to implement our investment plans. We hope that Emka's expansion will begin this year. Currently, our activities are focused on the commercialization of the Gallery. We strive to make Emka attractive on a regional scale - both for the residents of Koszalin and tourists as well. The LCP plans further expansion: the construction and purchase of retail parks and small commercial facilities. - emphasizes Krystian Modrzejewski, Managing Director of LCP Properties in Poland.

The opening of the expansion is planned for the first half of 2022.