UK asset manager First Property has acquired the Panorama shopping centre in Krasnystaw, Eastern Poland from Israeli developer Ardom for an undisclosed amount.

The Panorama Shopping Centre was opened in March 2009 and offers 5,200 m2 of modern retail space with key tenants including Media Expert, CCC, TAKKO, Meble Bodzio, Pepco and Drogeria Natura.

Ardom is currently finishing preparation works for the extension of the 5,500-m2 Max shopping centre, the largest retail scheme in Hrubieszów, South-Eastern Poland. Anita Rajchelt, director of Cushman & Wakefield's Capital Markets, said the company is also planning to sell this retail complex in its current phase or after the extension.

Cushman & Wakefield represented the vendor on the sale.