Warsaw, 20 August 2010 – Selling Fashion House Outlet Centre in Gdańsk to Polonia Property Fund II concluded the process of the all-Poland outlet chain ownership change which started in 2007. The transaction will provide Liebrecht and wooD with funds for further investments in Poland and abroad. So far the developer has invested nearly 150 million euro in retail projects in Poland. Fashion House Outlet Centre malls comprise the biggest Polish outlet chain in terms of retail space. The process of selling individual investment phases of each centre (located in Gdansk, Warsaw and Sosnowiec) which was initiated in 2007, has just come to an end. The new outlet chain owner is Polonia Property Fund II, managed by AIB PPM – a company with 10-year experience in CEE market in managing investors’ assets. The parties do not reveal the transaction value.

Part of the funds obtained as a result of Fashion House Outlet Centre chain sale will be assigned by Liebrecht & wooD for new and current investments in Poland, Russia and Romania. Construction and then sale of the developer’s facilities results from the company’s business strategy. Fashion House Outlet Centres remains the owner of the Fashion House Outlet Centre brand. It is a Liebrecht & wooD group company, which with its strategic partner GVA Grimley Outlet Services is currently responsible for managing the facilities.
 So far we have invested almost 100 million euro in the construction and development of the Fashion House Outlet Centre chain in Poland. Further extension of outlet centres depends on sales growth in currently operating centres. We are optimistic because the Fashion House chain has become a very successful and recognisable brand in Poland – says Patrick Van Den Bossche, Liebrecht & wooD’s Managing Director. One of current priorities in the Polish market is building Morski Park Handlowy located in Gdańsk. Liebrecht & wooD assigned nearly 50 million euro for the project. The complex will provide 50,000 m2 of retail space and 1500 parking spaces. The first tenants of Morski Park Handlowy are Carrefour (8,412 m2) and OBI (10,975 m2). The new retail park opening is planned for spring 2011. Morski Park Handlowy will combine the idea of an outlet and a traditional retail centre as well as a big box retail park. Fashion House Outlet Centre, operating since 2005, will become part of MPH. It will be the first solution of this kind in northern Poland. The nearest plans concerning the expansion of the Fashion House chain also concern three malls located in the biggest Russian and Romanian cities – Moscow, Saint Petersburg and Bucharest. Construction works at Fashion House Moscow – the first outlet centre in Russia – will start in April 2011 with the planned completion in November 2011. Fashion House St. Petersburg and Fashion House Bucharest are to be completed before 2012. ### Liebrecht & wooD is an European developer with projects on Polish, Romanian and Russian real estate market. As one of the few developers, Liebrecht & wooD provides complex services in real estate trade, offering buildings with unique architecture, which were appreciated many times by European competitions jurors. Company’s realisations contain offices, outlet centres, storehouse, commercial buildings and turnkey projects.

Kontakt dla mediów -----------------------

Marta Stach m.stach@imagopr.pl Senior Account Manager ul. Dworska 1 40-584 Katowice tel: +48 32 608 29 85 fax: +48 32 205 13 66 www.imagopr.pl

Source : http://media.liebrecht-wood.p, 20.08.2010