LCP says it's the right time

HSBC Bank Polska has arranged a EUR (zł.383.95) million real-estate credit facility for London and Cambridge Properties (LCP). LCP will use the funds to finance a portfolio of commercial property investments in retail developments all over Poland.

Previously LCP purchased two properties in Poland, including a consumer electronics shop in Janki near Warsaw, as well as a shopping mall in Elbląg. Further investments, mainly in the retail sector, can be expected in the upcoming months.

LCP is one of the United Kingdom's largest private owners of industrial and retail property, and recorded pre-tax profits of L39.15 (zł.214.40) million in 2005. Poland is the first country in the CEE region in which the company has decided to invest. The decision to enter the Poland is a crucial element of the company's strategy to win new markets.

"The Polish market of commercial properties is extremely promising. It is set to grow rapidly now that the Polish economy is catching up with the older EU member states," the managing director of LCP Poland, Zbigniew Maruszewski, said in a statement. "We believe that this is the right time to invest in Poland as the country offers good yields combined with low economic and political risk," he adds.

"We are happy to assist LCP in their move to enter the Polish market," said Rob Carver, head of corporate banking at HSBC Bank Polska. "The Polish economy is growing steadily, inflation is well below the average EU level, and conditions for doing business are improving. There has not been a better time to invest in Poland," he adds.