An electronic giant opens a store in Galeria Północna

A few days before its first birthday Galeria Północna is celebrating another significant business success. The technological company Media Expert joined the tenants of the first modern shopping center in the north of Warsaw. Opening of a new store with a comprehensive range of consumer electronics and home appliances is scheduled for 2018.

Media Expert is a dynamically developing store chain with consumer electronics, present on the Polish market for over 15 years. The company is a leader on local markets, offering customers the largest selection of the products at attractive prices. The network offer includes modern smart TVs, laptops, tablets and smartphones, photographic equipment, household appliances of well-known brands as well as relaxation and garden care equipment. Bikes, scooters and even quads are also available in selected Media Expert elecrtomarkets. The high quality of service and the customers’ recognition are confirmed by numerous awards, including Grand Prix – Laur Konsumenta 2018 in the Electronics / Household Goods Stores category.

“Galeria Północna provides locals with access to a commercial and entertainment offer not yet available in the north-eastern parts of Warsaw. We have been observing our clients’ preferences for almost a year and we are modifying our tenat-mix according to their needs and expectations. From the very beginning the stores offering consumer electronics have gained popularity. They are often chosen both for home shopping and for gifts. Therefore, we are pleased to inform that the retail potential of Galeria Północna has been appreciated by another significant tenant from this industry and soon our offer will be enriched by the Media Expert store. The first shop in Białołęka will be also the largest lease contract concluded in Galeria Północna since its opening” – said Jarosław Tutaj, Head of Retail Leasing, GTC.

The Media Expert electromarket in Galeria Północna will occupy a substantial area of 900 sq. m and will be its fifth shop in the capital. The opening is planned for 2018.

“Białołęka is a young, dynamically developing district opening interesting perspectives for companies from the electronics industry. Our competitive edge constitute a wide range of products in all price ranges and professional services that can help in adjusting the offer to customer expectations. Thanks to this, we are the perfect address for people arranging a house or flat, seekers for gadgets and original gifts as well as for electronics enthusiasts. With such potential, we have a lot to offer to customers visiting Galeria Północna” – summarizes the opening of the new store Marcin Żakowski, Head of Real Estate at Media Expert.

Piotr Krajewski - Fotografia Architektury / Architectural Photography

Strong operating performance with 35% FFO improvement

Q1 2018 HIGHLIGHTS:

  • Gross margin from rental activity up by 26% to €54m (€43m in H1 2017)
  • Profit after tax at €46m (€60m in H1 2017), earnings per share at €0.10
  • Profit after tax without revaluation increased 49% to €25m (€17m in H1 2017)
  • FFO I increased 35% to €29m (€21m in H1 2017), FFO I / share up to €0.06
  • In-place rent up 14% to €125m
  • EPRA NAV increased 4% to €1,120m (€1,073m as of 31 December 2017); EPRA NAV / share up to €2.32
  • Average interest rate down to 2.6% p.a. from 2.8% p.a. as of 31 December 2017
  • Interest cover at 4.0x
  • Net LTV at 45%

PORTFOLIO UPDATE:

  • Completion of the two buildings in Green Heart project (formerly GTC Square)
  • Refurbishment of the two buildings in Green Heart project (formerly GTC Square)
  • Completion of White House
  • Acquisition of Mall of Sofia and Sofia Tower
  • 4 projects under construction with 85,000 sq. m GLA
    to be completed in 2019
  • 3 projects with 90,000 sq. m to be commenced still
    in 2018
  • Strong asset management
    • Occupancy at 93% (93% in Q1 2018)
    • 85,000 sq. m of office and retail space newly leased and renewed in H1 2018

2018_H1_GTC_Wyniki finansowe_Informacja prasowa

2018_H1_GTC_Financial Results_Press release

The Spanish clothing brand to arrive at Galeria Północna

An urban, casual style, a wide range of clothing items and fashionable accessories are the hallmarks of the new tenant of Galeria Północna – the MANGO brand. In just a few months, the popular Spanish brand will complement the fashion offer of the first modern shopping mall in Białołęka.

 The new MANGO boutique in Galeria Północna is to occupy a significant area of 433 sq. m. It will be the fifth showroom of the brand in the capital city and the first one in the north of Warsaw. The Spanish fashion brand, adored by fashionistas all over the world, is to open its shop in Galeria Północna at the turn of 2018 and 2019.

 The MANGO brand pays particular attention to the locations of its showrooms. They are constantly opened in particularly renowned commercial areas. We are all the more pleased that the newest showroom will be delivered in Galeria Północnaconcludes Justina Ivan, Commercial Director Poland at GTC.

 MANGO is a popular Spanish clothing brand founded in 1984, in Barcelona. It is a manufacturer of women’s, men’s and children’s clothing items as well as elegant accessories. The stores of the Spanish brand are present in 111 countries all over the world. The boutique in Galeria Północna will feature a comprehensive range of fashionable MANGO clothing items for women, men and children.

We are certain that the philosophy of MANGO brand and the clothes it offers will be perfectly tailored to the tastes of the customers of Galeria Północna. A large number of our guests are young, active people, who like to combine fashionable clothes with high quality and comfort. Such collections will be available at the MANGO boutique store in Galeria Północnaadds Katarzyna Żuchowska, Retail Leasing Manager at GTC.