Legnicka gets going

Construction works on the site of the biggest shopping center in Wrocław, Galeria Legnicka, are now in full flow. At the end of last month the investor, Legnicka Developent SA (LD), got final financing for the project.

"The investment value is EUR 95 (zł.368) million. Gaining such funds while retaining the rights to the investment property is always a challenge. Finally, we gained the necessary financial protection from a group of Polish and international institutions, headed by BRE Bank and ING Lease Polska," said a member of the board at LD, and the managing director of Redis Legnicka Devco, Gilbert Boulanger.

The investment's finances had to be enlarged, after the firm decided to expand the project from a single storey to a two-storey development. The construction will be financed by a EUR 71.5 (zł.277.2) million construction loan that a consortium of BRE Bank, PKO BP, Invest Kredit Bank AG and Nord/LB Bank Polska granted to LD. On February 23 LD cashed a tranche of the loan to pay the general contractor, Warbud SA.

The developer says that Galeria Legnicka, with a total space of 80,000 sqm, will be the biggest commercial and leisure center in Wroclaw. "The advantages of the center are the size of the plot, its communication network, green areas, and the multi-functioning of the center," says Boulanger. With its vicinity to the city center and good local connections, Galeria Legnicka is likely to become a Mecca for Wrocław shoppers. At the same time, the developer also hopes the center will attract potential visitors from surrounding cities.

At the moment, almost 70 percent of the 63,000 sqm has already been leased. The anchor tenants are Tesco, which will open a 15,000 sqm hypermarket in the center, and Media Saturn, which will occupy 5,500 sqm of the space.

The architectural concept of Galeria Legnicka was developed by Wrocław-based architectural studio APA Hubka in cooperation with Canadian architects from Lemay Michaud International and Yann Guillemot Project. The external facade will be made of red brick and natural stone. Inside, the architects plan a water stream, waterfall, and a fountain. The main entrance will be accessed through a promenade.

Wrocław has been waiting for five years for construction to begin. Since 2000, not a single sod has been turned on the site of a previous slaughterhouse, where the investment is now being developed. In the meantime, other investors hurried onto Wrocław sites, with Leszek Czarnecki working on Arkady Wrocławskie and Echo Development developing Pasaż Grunwaldzki.

However, Boulanger is not concerned with the delay. "We do not want to be the first, but the best," he says.