Wysockiego retail park in Białystok rebuilt: NOI increase by about 70%

Over 16,400 sq m GLA currently supplies the Białystok market with the Wysocki Retail Park, which was created on the basis of the former Outlet Białystok project. The owner, Newgate Investment, planned and implemented the processes of reconstruction and recommercialization of the former outlet with an original GLA of 13,336 sq m. As a result of the changes introduced, the area of the facility increased by over 3,000 sq m and the NOI level increased by approximately 70%. Redevelopment projects initiated by Newgate Investment began in 2021. The final stage is currently underway. Newgate Investment manages a real estate portfolio consisting of 30 commercial facilities with a total lettable area exceeding 126,000 sq m. The rental level of the property is close to 100%.

As a result of the changes introduced by Newgate Investment, not only the architecture and shape of the retail park located in Białystok at 67 Wysockiego Street changed, but above all, the commercial offer of the property took on new forms and was adapted to the expectations of local communities. "Based on the extensive experience of Newgate Investment teams, which provides comprehensive solutions for its investors in the field of investment management, asset management, leasing and property management, we have prepared a project that is as tailored as possible to the potential of the location and market expectations for the benefit of all target groups: investors, tenants and local residents," says Robert Dudziński, Head of Asset Management at Newgate Investment. “Current tenants of Wysocki Park include: Carrefour, Media Expert, KiK, Action, Sinsay, TEDi, CCC, Takko, Maxi Zoo, Rossmann and Guess. By recognizing the needs of local consumers, we were able to offer tenants new opportunities tailored to the market potential. At the same time, we have reduced the level of operating costs related to the operation of the facility. Preparing space tailored to the needs of tenants and taking into account, among others, the preferences and purchasing power of local residents allows tenants to optimize both the format of the store or service point, as well as the offer, and this directly translates into sales results," emphasizes Robert Dudziński from Newgate Investment.

Newgate Investment has been operating on the Polish market for over 10 years. The company specializes in investments on the retail market in the parks and other smaller retail formats. It develops projects independently and also purchases ready-made facilities, including those that enable added value through reconstruction, expansion or recommercialization. The company is also interested in land with great potential for the development of commercial properties. “We do not limit ourselves to a specific geographical region of the country. We are interested in facilities located within the administrative boundaries of large cities, for example, our portfolio includes two retail parks located within the administrative boundaries of Warsaw, as well as in small towns where there is a lack of modern retail space adapted to the requirements of consumers and tenants. In the parks, we are also implementing a number of solutions serving local communities and providing complementary functions, including chargers for electric cars in our parking lots at facilities located in various parts of Poland. We are implementing this project together with our Partner, Polenergia. And this is not the end of changes in the area of electricity supply to our facilities. We will soon present more innovative projects,” sums up Robert Dudziński.