The Fund Octava FIZAN, managed by Octava Asset Management, is planning the comprehensive renovation of a part of the "Centrum Krakowska 61" shopping complex on Krakowska Avenue in Warsaw. A 2-story outlet with a lease area of 11,800 sqm, which used to be taken up by a Praktiker outlet, is going to be modernized. The works are going to include the replacement of the façade, store windows and installations as well as dividing the space into units for new tenants.
The schedule of the investment is going to depend on progress in re-commercializing the space, and the exclusive agent for this process is going to be the Savills Company. As PREM was informed by Magdalena Jakubowska, senior leasing manager in the Retail Space Department at Savills, the investment is preliminarily scheduled to begin in the fall of this year and should be completed in the first half of 2018. ■