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The Warsaw Voice » Real Estate » January 9, 2008
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Market Mix
January 9, 2008   
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Eurocash Opens 100th Cash&Carry Store

Discount wholesaler Eurocash has opened its 100th cash&carry store in Poland. The outlet is located in the city of Skarżysko-Kamienna in Świętokrzyskie province and it primarily targets customers who run small and medium-sized grocery stores in the area.

"Owing to a business model based on low investment spending, cost control and centralized logistics, our cash&carry stores offer the lowest prices on the market," said Luis Amaral, president of Eurocash. "While opening our 100th outlet, we can still see room for further growth, and we plan to continue our fast development in this market segment." The company plans to open six to 10 new cash&carry stores in Poland by the end of the year, Amaral said.

In early December, Eurocash signed a preliminary agreement to acquire a 100-percent stake in McLane Polska, a wholesale distributor of fast moving consumer goods (FMCG) with zl.1 billion in annual sales and a nationwide franchise network of around 300 IGA supermarkets. After the acquisition, Eurocash Group will become the biggest company on the FMCG wholesale market in Poland with zl.5.5 billion in annual sales.


CDI to Invest in Poznań

Leading Polish developer Centrum Development & Investments SA, which operates in the commercial sector and manages real estate, has proposed a new plan for the redevelopment of the center of Poznań in western Poland. The plan includes the modernization of the Okrąglak office-commercial-residential building and the "Theater Gate" project for the redevelopment of 27 Grudnia Street from the Okrąglak to the Arkadia building at the corner of 3 Maja Street. The estimated total cost of the project is 100 million euros. CDI plans to start work on the Okrąglak building in 2008. The total planned new office space including that in the Okrąglak measures 50,000 square meters. The whole project foresees 17,000 square meters of retail and service space, 6,000 square meters of office space in the Okrąglak, 12,500 square meters of office and residential space and a double-level underground parking garage for 250 cars.

The first stage of the project will involve the redevelopment of the Okrąglak, which aims to provide 6,000 square meters of modern office accommodation while retaining the architectural and historical character of the building. The work should start in the third quarter of this year and be completed by Q4 2009.
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