Echo Investment has signed preliminary contracts concerning the sale of the ECHO shopping centres in Radom, Tarnów and Piotrków Trybunalski.

The new owner of the facilities will be London & Cambridge Properties Ltd with its seat in London, which was represented by Savills in the transaction. The parties concluded the preliminary conditional sales agreements on the 20th of December 2012. The total value of the three contracts amounts to EUR 67 mln. Echo Investment will use the funds acquired thanks to the transaction for its development and the implementation of the planned projects. “LCP is pleased to start, what we hope is, a long term relationship with such a proven and successful partner in Echo Investment to purchase proven and established shopping centres in Poland. LCP is very committed to expand its portfolio in Poland, and we are delighted with the acquisition of these three shopping centres in addition to the other acquisitions we are making at this time." – said James Fife, LCP Managing Director for Poland. “Echo Investment has a lot of attractive properties in its portfolio, thanks to which the company is able to acquire credible and reputable partners such as London & Cambridge Properties. We expect the sales contracts to be efficiently finalized in the near future. We hope that it is the beginning of a long and successful cooperation with our new partner,” says Adrian Karczewicz, who is responsible for the transaction on Echo Investment"s part. The ECHO shopping centre in Radom is located on Żółkiewskiego Street and has a retail area of 19,500 sqm. The ECHO centre in Tarnów is located on Błonie Street and has 20,200 sqm while the ECHO centre in Piotrków Trybunalski is located on Sikorskiego Street and offers a retail area of 17,400 sqm.