Echo Investment has sold the Echo shopping centre in Pabianice, Poland to local investor PH 3 for nearly EUR 24 mln.

Built in 2002, the shopping centre was designed by architects Pracownia Uniprojekt and provides a retail area of 15,000 m2 as well as 570 parking spaces. Main tenants include: Piotr i Pawe, Jysk, Nomi, RTV Euro AGD, Reserved, Rossmann and CCC.

'It is yet another transaction on the Polish market, in which both the vendor and the buyer are Polish capital companies. Demand for shopping facilities in regional towns is very strong and the sector is attractive, not only for foreign investors but also for Polish players,' commented Adrian Karczewicz of Echo Investment.

Savills acted for the buyer.