Echo Investment plans on completing the construction of a new part of the Outlet Park Szczecin in the third quarter of the year. The new section will add 4,000 square metres the existing space. As a result, the total gross rentable space will amount to almost 28,000 sq. m,  rendering the complex one of the biggest outlet centres in Poland.

 

The third stage of the development is set to address mainly the needs of the residents living east of the Oder River in Szczecin and the suburbs situated nearby. “3,500 sq. m of space will be occupied by a fitness club – Fabryka Formy. Almost 840 sq. m of space will be taken by a multispecialty clinic – Dom Lekarski”, informs Paweł Słupski, PR officer at Echo Investment.

 

According to the company’s announcement in the stock exchange communique, the lease for the space was signed with Projekt Echo – 103, a member of the Echo Investment Capital Group for 11 years. Total lease payments under the agreement will amount to PLN 7.8 m. Dom Lekarski will have an option to add 1,500 sq. m to the space leased. The clinic estimates the number of patients at about 150,000 and revenues from medical services at PLN 50 m. throughout the lease term. 

The investors has not disclosed the term for which it has signed the lease with Fabryka Formy.

 

Echo Investment is already planning the fourth stage of the expansion of the development in ul. Struga. Additional 3,000 square meters of space will be available as a result. Construction is set to be completed in 2017. “This phase will also add new services offered to the residents of the areas east of the river.  The new offer will bridge the gap and provide the services that have not been offered in the Outlet Park and in the area” says Paweł Słupski.  He refuses to go into any details. “Negotiations are still in progress”, he states.

 

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